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.

Rebecca Olanrewaju     Ilorin East     IHS Towers     Baruten     Ronke Adeyemi     Abdulmajeed Abdullahi     UNIFEMGA     Folorunsho Erubu     Medinat Folorunsho Salman     Temitope Ogunbanke     Wahab Agbaje     Yusuf Olaolu Ali     Kaiama     Isiaka Gold     Samari     Rebecca Bake     Ethical College     Abdulfatai Salman Baakini     Abdullahi Saadudeen Alikinla     Abdulraheem Olesin     KWSUED     IYA ALFA NLA     AbdulRasaq Abdulmajeed Alaro     Haliru Yahaya     ER-KANG Mining Nigeria Company Limited     Offa Poly     Islamiya Abdulraheem     Umar Ahmed Gunu     Aremu Odolaye     Damilola Yusuf Adelodun     Abdulrahman Abdulrasak     Elections     Olaiya Victor Mobolaji     Oyeyemi Olasumbo Florence     Nigerian Army     Centre For Peace And Strategic Studies     Tsaragi     Issa Oloruntogun     Adamu Atta     Shettima     Malete     Erubu     Apaola     Umar Sanda Yusuf     Simeon Ajibola     Offa     Abdulraheem Yusuf     Senior Ibrahim Suleiman     Ayoade Akinnibosun     Ibrahim Taiwo Road     Young Progressives Party     Towoju     Nigerian Supreme Council For Islamic Affairs     Adeola Abraham     Innocent Okoye     Sheikh Ariyibi     Ayobola Ipinlaiye     Tunde Akanbi     Irepodun     Ibrahim Taiwo     David Oyepinola Adedumoye     COVID     Gbenga Olawepo     Obasanjo     Baba Idris     Mohammed Khadijat Kubura     Rueben Parejo     Abubakar Ndakene     Kwara 2015     Ajike People Support Centre     Salihu Alhaji Musa     Oko-Erin     Ibrahim Bio     Kanu Agabi     Air Peace     Jaiz Bank     Yusuf Amuda Aluko    

Cloud Tag: What's trending

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

Ayo Opadokun     Kwara Pdp     Kwara North     Oloje     Vasolar     Salake     Yomi Adeboye     Yusuf Ali     Local Government     Yoruba     Olabanji Orilonishe     Abubakar Baba Sulaiman     Sabitiyu Grillo     Olaitan Adefila     Aliyu Muhammed     John Mayokun Dada     Okanlawon Musa     Col. Taiwo     Facebook     Kupchi Hosea Maxwell     Lai Mohammed     Labaeka     Idowu Aremu     Mohammed Haruna     Baba Idris     NIPR     Barakat Community Secondary School     Musa Ayinla Yeketi     Mohammed Alabi Lawal     NaAllah     Emmanuel Bello     Ghali Alaaya     Mamatu Abdullahi     Bayo Onimago     Federal Neuro-Psychiatric Hospital     Revenue Court     Abdullahi Atanda     Nigeria Customs Service     Wahab Kunle Shittu     Nigerian Army     Valsolar     Mohammed Jimoh Faworaja     Bola Sagaya     Abdulkadir Akanbi-Oke     Oyeyemi Olasumbo Florence     Michael Imoudu National Institute For Labour Studies     AbdulHamid Adi     Yahaya Jibril Usman     Onikijipa     Bolaji Abdullahi     Sardauna     Sanusi Abubakar     Adisa Logun     Ladi Hassan     Kwara State Coalition Of Business And Professional Associations     Ike Ekweremadu     Olokoba Sulyman     Yusuf A. Usman     Isiaq Khadeejah     Olatinwo     Muhammad Ghali Alaaya     Ridhwanullah Al-Ilory     Quareeb     Balogin Alanamu     Mohammed Halidu     Senior Staff Union Of Colleges Of Education     Kayode Bankole     Cornelius Fawenu     Yusuf Lanre Badmus     Abdullahi Dasilva Yussuf     Tunde Idiagbon Road     Bamikole Omishore     Jare Olatundun     Laduba     Suleman Abubakar     COVID     Tayo Alao