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.

Akanji     Akande Idowu Ayoola Muhammed     Abiodun Abdulkareem     All Confederation Of Principals Of Secondary Schools     Kulende-UITH     T And K FOODS     Principal Private Secretary     Babs Iwarere     Khadijat Ayoola Yusuf     Saliu Ajia     Colleges Of Education Academic Staff Union     Okasanmi Ajayi     Baba Issa Awoye     Abioye Bello     Ibrahim Abdulkadir Abikan     State Bureau Of Internal Revenue     Abdullahi Imam Abdullahi     Onilu     Lafiagi     Okin Malt     CLAY POT     Zubair Folorunsho Erubu     Ibrahim Taiwo Road     Nigerian Medical Association     Adedipe     Elerin Of Adanla     Sobi Hill     Elesie Of Esie     Abdulmumin Yinka Ajia     Age AbdulKareem     Agboola Abdulraheem     Christopher Ayeni     Zainab Abass     Eruku     20 Billion Bond     Buari Edun     Dan Masanin     Shonga     Muhammad Mustapha Suleiman     Imam Gambari     Saka Asiat Ayinke     Sabitiyu Grillo     Muideen Olaniyi Alalade     Funmilayo Braithwaite     Vasolar     Council Of The Wise     Yahaya Seriki     Bamidele Adegoke Oladimeji     Nigerian Correctional Service     Mike Omotosho     Alagbado     Bola Sagaya     Baruten     Lola Olabayo     Abdulrazaq Aiyelabegan     Dar-Al-Handasah Consultants Ltd     Modibbo Kawu     Tanke Flyover Bridge     Solomon Edoja     Abubakar Baba Sulaiman     Yahaya Dumoye     Ifelodun     Towoju     Solomon Edojah     Facebook     Babatunde Idiagbon     Kale Bayero     Volunteers Of Ilorin Community And The Emirate     Sayomi     Goodluck Jonathan     Osuwa     Galadiman Ngeri     Sarah Jubril     Aremu Odolaye     Quranic Recitation Competition     Ohoro Of Shao     Kwara Liberation Group    

Cloud Tag: What's trending

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

Hijaab     Jimoh Olusola Imam     Aisha Ahman-Pategi     Baba Isale     Hauwa Nuru     GANZY     Susan Modupe Oluwole     Owu Fall     Dapo Teni Nig Enterprise     State Bureau Of Internal Revenue     Shero     IHS Towers     JAAC     Alabi Olayemi Abdulrazak     Facebook     Students Union Government     ITEM 7     Oniyangi Kunle Sulaiman     AbdulHamid Adi     Gbenga Adebayo     Bayo Mohammed Onimode     Kwara State Health Insurance Agency     Taofik Abdulkareem     Ahmed Bolaji Nagode     AbdulQowiy Olododo     Afolasade Opeyemi Kemi     Tunji Oyawoye     Adolescent Girls Initiative For Learning And Empowerment     Moshood Mustapha     Raji AbdulRasaq     Zulu Gambari     Binta Abubakar Mora     Olam Food Ingredients     Kwara State Government     Elerin Of Adanla     Adesoye     Ilorin West     Lanwa     Olokoba     Guber Aspirant     Binta Sulyman     Peter Amogbonjaye     Emir Of Shonga     Abdulmumini Jawondo     Alaiye     Omotoso Musa     Charcoal     Tanke     Fatimoh Lawal     Clement Yomi Adeboye     Lanre Jimoh     Mustapha AbdulGaniyu     Adebara     Hajj     Iponrin     Abdulkadir Jimoh     Femi Gbajabiamila     ASKOMP     KWSUED     Senior Special Assistant On Student Affairs     Undergraduate Bursary     Aso Ofi     Titus Ashaolu     Yusuf Ibitokun Sherifat     Shuaibu Yaman Abdullahi     Kwara 2023     Kehinde Boyede     Maryam Ado Bayero     Alapado     Mohammed Ghali Alaaya     Ministry Of Women Affairs And Social Development     Okeose Christian Cementary     Shehu Alimi Foundation     Simeon Sayomi     Balogun-Ojomu     Assayomo     Chief Imam Of Lafiagi