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.

Olushola Saraki     Adolescent Girls Initiative For Learning And Empowerment     Rabiu Kwankwaso     Christian Association Of Nigeria     Risikat Lawal     Sulaiman Gado     Emmanuel Olatunji Adesoye     Basit Olatunji     Aisha Gobir     Mary Kemi Adeosun     Kulende     Sarakite     Agboola Babatunde     Rotimi Atere     Naira Redesign     Gobir     Kawu Baraje     UNIFEMGA     Congress For National Consensus     Sa\'adu Salahu     Societe Generale Bank Of Nigeria     Baba Issa     Amusement Park     Shettima     Ibrahim Abiodun     Patience Jonathan     Yashikira     Economic And Financial Crimes Commission     Oju Ekun Sarumi     PAACO-PCL Consortium     Kwara NIPR     Kwara Pdp     Oba-Solagberu     Balogun-Ojomu     State Bureau Of Internal Revenue     Adesoye College     Ronke Adeyemi     Ajeigbe     Kwara-SAPZ Project     Moses Adekanye     International Aviation College     Amos Sayo     TVC Female National Debate     Kumbi Titilope     KFA     Ayodele Olaosebikan     Alumni Association Of The Federal Polytechnic Offa     Musa Alhassan Buge     Ilorin Talaka Parapo (ITP)     Gbugbu     Ifelodun     Saka Saadu     Abdulrahman Abdulrasak     Mahmud Durosinlohun Atiku     CBT     Hassanat Bello     Oloje     Olugbense     Wahab Agbaje     Colleges Of Education Academic Staff Union     Oro Grammar School     Monthly Sanitation     Kwarareports     Wasiu Odewale     Mutawalle     Doyin Agbamu     Muhammad Yahya     Sabi     Wale Oladepo     Elese Of Igbaja     Kayode Alabi     Segun Olawoyin     Shuaibu Yaman Abdullahi     Bluenile Associates     Rice Farmers Association Of Nigeria     Mohammed Yahaya Barki     Pakata Patriots    

Cloud Tag: What's trending

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

Yunus Lawal     LABTOP     Standard Organization Of Nigeria     Labaeka     Awodun     Sheikh Ridhwanullah El-ilory     Abdulkadir Remi Hawawu     Maryam A. Garuba     Bolaji Nagode     Abdulmajeed Abdullahi     Yusuf Abdulwahab     Fatai Garuba Labaka     Bamikole Omishore     Yusuf Aiyedun     Chemiroy Nigeria Limited     Ekiti     Abraysports FC     Vasolar Consortium     Haruna Tambiri Mohammed     Olokoba Abdullahi Ayinla     Sheikh Hamzat Yusuf Ariyibi     Suleiman Yahya Alapansapa     Oba David Oyerinola Adedunmoye     Isiaq Khadeejah     Ayinde Oyepitan     KWASIEC     Ghali Muhammed     Ibraheem Adeola Katibi     Elerin Of Adanla Irese     Olusin Of Ijara Isin     March 18     Galadima     Gafaru Olayiwola Olorisade     Kwara Central     Lawyers Unite Against Corruption     EndSARS     JUSUN     International Vocational Centre     Tope Daramola     Alloy Chukwuemeka     Amusement Park     Alaaya     Sola Saraki Educational Foundation     UTME     Sheriff Olanrewaju     Shettima     Kwara Muslim Pilgrims Welfare Board     All Confederation Of Principals Of Secondary Schools     Unilorin FM     Ballah     Kwara Teaching Service Commission     Mustapha Olanipekun     Yeketi     Alabere     Idi-Ape     Dairo Kunle Paul     Omoniyi M. Ayinla     Bankole Omisore     EFCC     Dar-Al-Handasah Consultants     Mashood Abdulrafiu Agboola     Hakeem Idris     Bayo Ojo     Kola Adesina     Hijaab     Shaykh Luqman Jimoh     Jumoke F. Ajao     ITEM 7     Farouk Salim     Taofik Abdulkareem     Azeez Bello     Abdulhakeem Amao     New Naira Notes     Makama Of Ilorin     Ahman Patigi     Shehu Alimi Foundation For Peace And Development     Shuaibu Yaman Abdullahi