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.

Niyi Osundare     Aishatu Ahmed Gobir     Kale Bayero     Christopher Tunji Ayeni     Aso Ofi     David Adesina     Dogara     Baboko     Law School Scholarship     Rasaq Jimoh     Oyedun Juliana Funke     Kaosarah Adeyi     Minister     20 Billion Bond     Erin-ile     All Confederation Of Principals Of Secondary Schools     Raliat Islamic Foundation     Local Government Pension Board     General Hospital, Offa     Oya State     Baba-Isale     Mohammed Ajia Ibrahim     Kayode Zubair     Ibraheem Abdullateef     Balikis Jawondo     Haliru Dantoro     A.G.F Abdulrasaq     Sheikh Ridhwanullah El-ilory     Al-Ilory     Amada Jidda     Yakubu Shaaba     Sunday Popo-Ola     Special Agro-Industrial Hub     Emir Of Ilorin     Aliyu Salihu     Hajj     Ahmad Lawan     Is\'haq Modibbo Kawu     Idris Garba     Magaji Are     Facemasks     Ganiyu Taofiq     Kwara State Football Association     Kwara State Infrastructure Development Fund     Arinola Fatimoh Lawal     John Kehinde Salako     Abdulquawiy Olododo     Isaac Gbenle     Abdulrahman Abdullahi Kayode     Kwasu     Abdulazeez Arowona     Lawal Jimoh     Okoolowo     Nigeria Computer Society     Abatemi-Usman     Lukman Adeloyin     Olaiya Victor Mobolaji     Hassanat Bello     AGF Abdulrazaq     Balogun-Ojomu     Kwara State Branch Of The National Library     Tafidan Kaiama     Kwara State Council Of Chiefs     Ahmad Uthman     Labour Party     Taiwo Joseph     Edu     Bond     Alapado     Zubair Folorunsho Erubu     Nupe     Baruten     Sulu Babaita Isiaka     Bayo Ojo     MalHub     Albert Ogunsola     08001000100    

Cloud Tag: What's trending

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

General Tunde Idiagbon International Airport Ilorin     Wahab Egbewole     Shehu Adaramaja     Abubakar B.M     Markaz Arabic And Islamic Training Institute, Agege     Olabanji Orilonishe     Ajakaye     MalHub     Bayer Nigeria Limited     School Of Nursing     Mahe Abdulkadir     Kwara Liberation Group     Yahaya Abdulkareem Babaita     Emmanuel Bello     Lawan     Iliasu     Folaranmi Aro     Kwara State Polytechnic     Monkey Pox     Computer Based Test     Niguel Gallando Marcias     Isiaka Abdulrazak     Maryam A. Garuba     Sulaiman Gado     Esuwoye     Muhammed Akanbi     Roseline Oni Aremu     Tunde Kazeem     Wahab Femi Agbaje     SAPZ Project     Amule     Oloruntoyosi Thomas     Ayinke Saka     Yahaya Seriki Gambari     Sa\'adatu Modibbo-Kawu     Adam Abdullahi Al-Ilory     Taofik Abiodun Ahmed     KWAFFA     Oyelere Oyinloye     Prince Sunday Fagbemi     Dogara     Metro Park     Abubakar Abdullahi Bata     Olajumoke Monsura Gafar     Abdulrahman Abdulrazaq     Ganmo     Alaro     Marafan Shonga     Umaru Saro     Abdulkadir Akanbi-Oke     Roheemat Hammed     Kayode Yusuf     Mansurat Amuda-Kannike     Sun Qing Rong     African Democratic Congress     Sobi Hill     Tafidan Kaiama     Deji Ajani     Aiyedun     Folajimi Aleshinloye     Kwara North     Wahab Issa     Sam Okaula     Akande Idowu Ayoola Muhammed     Obuh     Ibrahim Bio     Moro     Ilorin.Info     Iyabo Adewuyi     Lafia Aliyu Korasabi     Abdulmumin Yinka Ajia     Asa LGEA School     Amusa Bello     Aremu Odolaye     Ballah     Shade Omoniyi     Saad Omo\'ya