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.

Chief Imam Of Ilorin     Alfa Modibo Belgore     Modupe Oluwole     Joseph Yemi Ajayi     Ilorin Like-Minds     Ahmad Olayiwola Kamaldeen     Barakat Community Secondary School     AbdulRazaq Jiddah     Offorjama     Umar Yakubu Jaja     Emir Of Lafiagi     Jimoh Lambe Abdulkareem     Olukotun Of Ikotun     Ajike People Support Centre     IYA ALFA NLA     Kamaldeen Gambari     Raymond Olaitan     Yahaya Muhammad     Durosinlohun Atiku     Kanu Agabi     Ahmed Idris Mohammed     Government House     March 18     Moshood Kashimawo Abiola     Yemi Sanni     Saad Belgore     Sarafadeen Kayode Akorede     Wahab Egbewole     Micheal Imoudu     Olayinka Are     Olaoye B. Felix     Trader Moni     Odogun Olushola Gabriel     Fulani     Mohammed Alabi Lawal     Timothy Akangbe     Turaki Of Ilorin     Ilesha-Baruba-Gwanara     Oloje     Jumoke Monsura Gafar     CACOVID Palliatives     Tescom.kwarastate.gov.ng     Federal Allocation     Yakub Ali-Agan     Dorcas Afeniforo     08001000100     Arinola Fatimoh Lawal     Ajeigbe     Modibo Kawu     Senior Ibrahim Suleiman     Lateef Fagbemi     Islamiya Abdulraheem     Funmilayo Zubair     Student Learning Support Helpline     Ibrahim Sulu Gambari     International Vocational Centre     Yoonus Lawal     Bola Tinubu     Kudirat Arinola Lawal     Olaiya Lawal     Halimat Yusuf     Raji AbdulRasaq     Saka Onimago     Kwara State Council Of Chiefs     Solomon Edojah     Oba Abu     Umar Adelodun     Bayo Ajia     Bamidele Adegoke Oladimeji     Yomi Ogunsola     Adegoke Bamidele     Umar Bayo Abdulwahab     Muftau Akanbi Oke     Hakeem Lawal     Alabi Olayemi Abdulrazak     Ali Ahmad     Bamikole Omishore    

Cloud Tag: What's trending

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

Asiwaju Bola Tinubu     Kayode Oyin Zubair     Lucky Omoluwa     Kanu Agabi     Abdulrahman Abdullahi Kayode     Bibire Ajape     Gbugbu     Fatimoh Lawal     MINILS     Sa\'ad Alanamu     Oya State     Mustapha Olanipekun     Wahab Issa     Omotosho     All Confederation Of Principals Of Secondary Schools     Towobola Abdulrahman Toyin     Aro Yahaya     Muyiwa Oladipo Kanu     Bayo Mohammed Onimode     Kwara State Television     Government High School Adeta     Olawuyi     HAMFAT Clinic And Maternity     Moses Afolayan     Ilorin Talaka Parapo     Onilu     Kunbi Titiloye     Kwara Muslim Pilgrims Welfare Board     Musa Yeketi     HICA     Sayomi     Col. Adedipe     Mohammed Ibrahim     Nigeria Computer Society     Jamila Bio Ibrahim     Ohoro Of Shao     Oniyangi Kunle Sulaiman     Timothy Olatunde Fadipe     Yashikira     Bola Magaji     Ahmad Lawan     Jare Olatundun     Sulu Babaita Isiaka     Mohammed Tunde-Jimoh     Risikat Lawal     Tricycle Owners Association Of Nigeria     Saka Balikis Kehinde     Basit Olatunji     Ramat Oganija     NIPR     Abdulraufu Mustapha     Amos Justus Sayo     Oro Grammar School     Nigeria Governors\' Forum     Muhammad Yahya     TIC     Al-Adaby     Jalala     CKNG     Mutawalle     Oba Abdulkadir La\'aro     Islamic Development Bank     Kisra     Tope Daramola     Henry Makinwa     Grillo     Share-Tsaragi     Isiaka Gold     Umar Ahmed Gunu     Okoolowo     Okanlawon Taiwo     Leke Ogungbe     Vishvas KOZ Tractors     Umar Sanda Yusuf     Offorjama     Rabiu Kwankwaso     CLAY POT