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.

Student Learning Support Helpline     Okin Biscuits     Tope Daramola     Salihu Alhaji Musa     Ita-Ore     Iyabo Dupe Adekeye     Taofeek Sanusi     Henry Olaosebikan     Olusin Of Ijara Isin     Prince Mahe Abdulkadir     Mohammed Kamaludeen     Seed Technologies     Olota Of Odo-Owa     Rihanat Ajia     Laduba     Ayodele Kuburat Olaosebikan     High Court     Neo Mundo Ltd     Gafaru Olayiwola Olorisade     Wahab Abayawo     Ilesha-Baruba-Gwanara     NULGE     Ahmed Ayinla Jimoh     Atunwa     Elections     Toyin Olayinka Tejidini     Ohoro Of Shao     Oja-Oba     Saad Omo\'ya     Ilesha-Baruba     SSA Youth Engagement     Federal Road Maintenance Agency     Muhammad Ghali Alaaya     A.O. Belgore     Afolabi-Oshatimehin Adenike Harriet     Jide Oyinloye     Yusuf Ali     KW-GIS     Lawal Olohungbebe     UNILORIN Alumni     Rebecca Bake     Yakubu Gobir     Amina Susa\'a De Ahmed     Veterinary Teaching Hospital     Ishaq Salman     Hausa     Ella Supreme Tissue Paper     Tinubu     Pius Abioje     Aminat Ahmed     Olayinka Are     AIT Ilorin     Esinniobiwa Quareeb     Assayomo     Kwara 2023     Maryam Ado Bayero     IFK     Mohammed Lawal     Balogin Alanamu     Ariyo     Kehinde Boyede     Saadu Alanamu     Iyaloja-General     Abdulrazaq Sanni     Olokoba Abdullahi Ayinla     REO CAKES     Falokun-Oja     Offa     KWSUED     Tricycle Owners Association Of Nigeria     Mahmud Babatunde Baker     Sam Okaula     Oba Of Jebba     LABTOP     Firdaos Amasa     Kwara State Television     Vishvas KOZ Tractors    

Cloud Tag: What's trending

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

Erubu     Hijab     Roheemat Hammed     08001000100     Bolakale Ayo     Yahaya Jibril Usman     Ayedun     Wahab Issa     Razak Atunwa     Senate President     Yekini Adio     Abiodun Oyedepo     Elesie Of Esie     Abiodun Abdulkareem     Abdulrazaq Akorede     Ibrahim Oloriegbe     Michael Ologundea     Kayode Oyin-Zubair     Al-Adaby     Muhammadu Gobir     Dele Belgore     Arinola Fatimoh Lawal     Riskat Opakunle     Orire     NIPR     Sunday Fagbemi     LEAH Charity Foundation     Monthly Sanitation     Lasiele Alabi Yahaya     Elerin Of Adanla     Asa     Adedipe     Quran     Alikinla     General Hospital     KWATMA     African Democratic Congress     Olajumoke Monsura Gafar     Bello Abubakar     VADA     Raymond Olaitan     Mutawalle     Abikan     Ahmad Fatima Bisola     Ella Supreme Tissue Paper     Read With Me     Sulyman Tejidini     Aisha Ahman Pategi     Awoye     Association Of Kwara State Online Media Practitioners     Bashir Badawi     Just Event Online     Emir Of Yashikira     Awwal Jawondo     Iyabo Adisa Ibiyeye     Muhammad Toyin Sanusi     Abdulmumini Sanni Jawondo     Suleiman Yahya Alapansapa     Offa Descendants Union     Shoprite     Funmilayo Oniwa     Mohammed Kamaludeen     Olatunde Olukoya     Odo-Owa     Rebecca Olanrewaju     Ike Ekweremadu     Dasuki Belgore     Babaita     Umar Yakubu Jaja     Sabi     LABTOP     Ayobola Ipinlaiye     Danhawa     Henry Olaosebikan     Ejidongari     Amuda Musbau     Valsolar Consortium