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.

Amosa     Al-Hikmah University     Aliyu Muhammed     Durbar Festival     Okoolowo     Abubakar Olusola Saraki     Gafaru Olayiwola Olorisade     Musa Ayinla Yeketi     Maigidasanma     Kwha.gov.ng     Oke Sunna     Ahmad Ali     Yetunde Balogun     Lanre Issa-Onilu     Iliasu     Oyawoye     Kumbi Titilope     Lithium     Ajayi Okasanmi     Dauda Adeniran Adeshola     Amos Justus Sayo     Adam Abdullahi Al-Ilory     Jamiu Oyawoye     The Herald     Oba Abdulkadir La\'aro     Ijagbo Health Centre     Rabiu Kwankwaso     Clara Nwachukwu     Ghali Muhammed     SWAN     Yakub Lai Gobir     Academic Staff Union Of Universities     Joseph Yemi Ajayi     Mansurat Amuda-Kannike     Obayomi Azeez     Ajeigbe     Lateef Fagbemi     UNILORIN Alumni Association     COEASU     Afonja Descendants Union     Mohammed Ajia Ibrahim     Ambassador Kayode Laro     Offa Grammer School     Adesoye College     Yahaya Seriki     Oloje     Oni Adebayo     Muslim Stakeholders Of Kwara State     Yakubu Shaaba     Suleiman Yahya Alapansapa     Erin-ile     Kwara State Governor     Binta Abubakar-Mora     Femi Gbajabiamila     Yusuf Amuda Abubakar     Onikijipa     Niyi Osundare     Ohoro Of Shao     Makama Of Ilorin     Special Agro-industrial Processing Zone     Hauwa Nuru     Kwara State Pension Board     Nurudeen Muhammed     Salaudeen Oyewale     Ahmed Idris Mohammed     KW-GIS     Bola Magaji     Marufat Oladosu     Government House     Henry Makinwa     College Of Education     Abdul Jimoh Mohammed     Federal Neuro-Psychiatric Hospital     Saduki Lafiagi     Alaaya     NIRSAL     Sadiq Buhari    

Cloud Tag: What's trending

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

Olatunde Oyeyiola     New Nigeria People’s Party     Pakata Patriots     Jimoh Olusola Imam     Veterinary Teaching Hospital     AGM Professional Services     Abdulraheem Olesin     Okin Biscuit     Sai Kayi     Cassava Growers\' Association     Yakubu Mohammed Abdullahi     Abdullahi Saadudeen Alikinla     Dan Iya Of Ilorin     Abdullahi Dasilva Yussuf     Ilorin Talaka Parapo (ITP)     Abdulkadir Jimoh     IYA YUSUF     Lasiele Alabi Yahaya     Saadu Yusuf     Gobir Organization Foundation     AGILE Programme     Razaq Ayobami Akanbi     GAMA     Ayinke Saka     Special Agro-Industrial Hub     GGDSS Pakata     Alabi Olayemi Abdulrazak     Oke Sunna     General Hospital, Offa     ER-KANG Mining     Abubakar Aliagan     Ilorin East     KWTV     Majlis For Sadakah, Zakat And Waqf     Raymond Olaitan     Raji Ayodele Kamaldeen     ASUU     Hassan Saliu     Mahmud Ajeigbe     Olusin Of Ijara Isin     Isiaka AbdulRazaq     Ajeigbe     NAWOJ     Haleeman Salman     George Innih     Abdulmumin Yinka Ajia     Suleiman Rotimi Iliasu     Titus Ashaolu     KWACOBPA     Ibraheem Abdullateef     Azeez Salawu     Salake     Ayodele Shittu     Saduki Lafiagi     Okeose Christian Cementary     Saadatu Modibbo-Kawu     Chemiroy Nigeria Limited     Ojo Fadumila     Abubakar Baba     Suraj Tunji Oyewale     MATTA Girls Foundation     Olokoba Sulyman     Offorjama     Odo-Owa     Rafiu Olasile     Kwara State Government     Eleyele     Akeem Olatunji     All Confederation Of Principals Of Secondary Schools     C2c@kwarastate.gov.ng     Edret Sabi Abel     Ridwan Agboola     ASKOMP     Ademola Kiyesola     Abdulsalam A. Yusuf     Sherif Shagaya     Isa Aremu