FG stalling our move to access N23b bond -KWSG ...targets N1.5b IGR

Date: 2015-01-14

The Federal Government came under severe criticism yesterday over its plot to starve state governments under the control of the opposition All Progressives Congress (APC) of fund.

In an exclusive interview with The Herald in Ilorin, the Kwara state Commissioner for Information and Communications, Prince Tunji Moronfoye, warned that such action was unhealthy for a democratic culture.

He noted that the Federal Government had taken the unfavourable action too far with an alleged instruction to financial institutions to decline lending the state government the required funds for infrastructural projects.

Moronfoye said although the state government was unperturbed with the political witch-hunt, the government at the centre had remained unyielding in turning some institutions of the government to willing tools in fighting perceived opponents.

He said in spite of the grand plot to render the state redundant financially, the state government has been operating with strict financial acumen.

"We have tried to access N23billion bond, it was refused by the Federal Government. We also attempted to access normal loans from the banks, they were also blocked by the Federal Ministry of Finance. Instruction had been given that we should not be borrowed money.

"The unfortunate thing about that is this; they are stopping the banks from doing business. Kwara State is economically and financially viable. We have paid the last bit of the former bond, which is N17billion bond, which Dr Bukola Saraki took when he was governor. We paid that on August 5, 2014. Everything was complete.

"So what is the basis for this. It is obviously political. And we have sent a political message as well that during the elections, we would not be intimidated, and we are going to stand by the APC".

Commenting on the austerity measures, the commissioner said the state government had adopted the approach long ago even before the current oil price slump in the international market.

The crude oil is now sold below $50 in the market with the bandwagon effect manifesting in the economy of developing nations, Nigeria inclusive.

Moronfoye lambasted the federal government for wasting the nation's scarce resources on frivolities.

Meanwhile, the commissioner told The Herald that the state government was targeting N1.5billion from this year as its monthly Internally Generated Revenue (IGR) in its current drive to develop the state, adding that the government would dwell on natural resources while tightening all financial loopholes.

He stated that the government would also generate more funds through small scale business, foreign direct investment as well as tourism sector.

He said, "at this point in time, we are oscillating between N600 and N800million per month, and what we want to do, is to jerk it up. At least, we should hit N1.5billion per month. We are going to tighten a lot of loopholes that made us to lose money.

"These are part of the reasons that you see our VIO on the streets, checking if people have paid for their licenses and others" .

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Risikat Lawal     Akeem Olatunji     Kwara Poly     Adeola Abraham     Sunset Workers     Segun Ogunsola     Yusuf Zulu-Gambari     Centre For Peace And Strategic Studies     John Mayokun Dada     CCEPE     Elerin Of Adanla     Henry Makinwa     Babs Iwarere     Forgo Battery Company Limited     Yusuf Abdulraheem     Ganmo Electricity Sub-Station     Afeyin-Olukuta     Umaru Saro     Lanre Aremu     Quran     Ahmad Olanrewaju Belgore     Femi Ogunsola     Hausa     Tafidan Kaiama     Village Alive Development Association     AGM Professional Services     TIIDELab     Alaiye     Jumoke F. Ajao     Pius Abioje     Atiku     Olaiya Lawal     Ahmad Fatima Bisola     S.O. Opowoye     Magaji Are     Tanke Flyover Bridge     Saidu Isa     Tunji Folami     Ilorin Talaka Parapo (ITP)     Olugbense     Kayode Yusuf     Hakeem Idris     Iliasu     Ghali Alaaya     Federal Road Maintenance Agency     High Court     Abdulkadir Bolakale Sakariyah     Oniyangi Kunle Sulaiman     Dan-Kazeem     Oyeyemi Olasumbo Florence     Umar Adelodun     Femi Gbajabiamila     Micheal Imoudu     Grillo     Hassan Abdulazeez Elewu     Umar Danladi Shero     Amusa Bello     Aro Yahaya     Gafaru Olayiwola Olorisade     Simon Sayomi     Mutawali Of Ilorin     Wale Oladepo     Ali Ahmad     Special Agro-Industrial Hub     Ogidi-Oloje     Ijagbo     Akom Construction And Engineering Synergy Ltd     Biliaminu Aliu     Olusin Of Ijara Isin     Ilorin Anchor Men And Women     Wahab Issa     Opaleke Bukola Iyabo     Balogun-Ojomu     Kaiama     Junior Secondary School Certificate Examinations     Ibrahim Issa Jetti     Sulyman Abdulkareem    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Onilorin     Hydroelectric Power Producing Areas Development Commission     Kwara Poly     Women Radio     Ayinke Saka     Muhammad Ghali Alaaya     Hamidu Olowo     Usman Alkali Baba     Third Estate     Owu Fall     Afin Descendants Union Of Odo-Owa     Ibrahim Oniye     Sam Onile     Gbenga Awoyale     Pategi     Elections     Yusuf Babatunde Abdulwahab     Oke-Oyi     FERMA     Isaac Aderemi Kolawole     KWAFFA     Sambo Murtala     Photo News     Rebecca Olanrewaju     Tunji Arosanyin     Tayo Awodiji     Okala Baba     Omotosho     Modibo Kawu     Sherif Shagaya     Olupako     Kayode Issa     Sabo-Oke     HYPPADEC     Afolabi-Oshatimehin     Islamic Development Bank     Ilorin Metro Park     Ghali Alaaya     Bolaji Nagode     Tosin Saraki     Ita-Ore     Gobirawa     Sobi     Jamila Bio Ibrahim     Olatunde Michaels     Oju Ekun Sarumi     Oke Sunna     Ayobola Ipinlaiye     ER-KANG Mining Nigeria Company Limited     ASMAU PLAZA     Ministry Of Women Affairs And Social Development     Bolaji Abdullahi     Yekini Adio     Jalala     Donatus Ejidike     Gbugbu International Market     Olatinwo     Patience Jonathan     Seun Bolaji     Adisa Logun     AbdulHakeem Ajibola Akanbi     Mohammed Khadijat Kubura     Ramat Oganija     Ogidi-Oloje     Ilesha-Baruba     Mohammed Haruna     Oyedepo     Yusuf Badmus     Abdulwahab Ololele     Ilorin Anchor Men And Women     Transition Implementation Committee     Age AbdulKareem     Ibrahim Abiodun     Kayode Ibrahim     Shuaibu Yaman Abdullahi     HICA     Kunle Suleiman