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.

Bluenile Associates     Abdulraufu Mustapha     Akanbi-Oke     Ayegbeni     IYA ALFA NLA     Ndakene     Alao Ayotunde     Shuaib Abdulkadir     David Oyerinola Adedunmoye     Kale Ayo     Ebun-Olu Adegboruwa     Emir Of Ilorin     Fareedah Dankaka     Shehu Raheem Adaramaja     Babatunde Ajeigbe     Abdulmutalib Shittu     Ethical College     Khairat Gwadabe     Muhammad Sirajo Aliyu     Valsolar     Umar Saro     Abiodun Jacob Ajiboye     Agbarere     Ijagbo     TETFUND     Isa Aremu     Fatimoh Lawal     Umar Sanda Yusuf     KWACOBPA     Mutawalle     Ibrahim Sulu Gambari     Onilorin     Abdulraheem Olesin     Tafidan Kaiama     Ajuloopin     NIPOGA     Amule     Taofeek Ibraheem     Labour Party     Sobi FM     Shola Odetundun     Oluwatoyin Lukman     Sherif Sagaya     Abubakar Olusola Saraki     Laolu Saraki     Sai Kayi     Umar Adelodun     Timothy Olatunde Fadipe     Saliu Shola Taofeek     Amasa     National Union Of Road Transport Workers     Olanrewju Okanlawon Musa     Garba Dogo     Ilorin Metro Park     CBT     Medinat Folorunsho Salman     Voices Of Tomorrow     Otuka     Salake     Vasolar Consultoria     Ali Ahmad     Haruna Olawale Sulaiman     Saka Isau     Academic Staff Union Of Universities     Ibrahim Issa Jetti     MATTA Girls Foundation     Senior Special Assistant On Student Affairs     Femi Gbajabiamila     Iyabo Adewuyi     Ibrahim Abdulkadir Abikan     Yahya Mohammed     Abdulbaqi Jimoh     Ajeigbe     Tayo Alao     Hamidat Sulyman-Yusuf     Salmon Babatunde Salmon     A.G.F Abdulrasaq    

Cloud Tag: What's trending

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

Awodun     Alumni Association Of The Federal Polytechnic Offa     Musa Aibinu     Amusa Bello     Just Law Forum     Jumoke F. Ajao     Sabitiyu Grillo     Aliyu Umar     SGBN     Olaiya Victor Mobolaji     Ghali Alaaya     Economic And Financial Crimes Commission     Oladimeji Thompson     Titus Suberu-Ajibola     Pakata Development Association     Ibrahim Bio     Danhawa     Baruba     Agboola Abdulraheem     Afeyin-Olukuta     Special Agro-industrial Processing Zone     David Adesina     Ballah     Abdulraheem Yusuf     Kishira     Hassanat Bello     Mazars Consulting     Roseline Oni Aremu     Peter Amogbonjaye     Akande Idowu Ayoola Muhammed     Kubra Kazum     Salihu Yahaya     Vasolar-Kwara Company Ltd     Olatunde Michaels     Elese Of Igbaja     Titus Ashaolu     Akanbi-Oke     Habeeb Abdullahi Al-Ilory     Prince Sunday Fagbemi     Bahago     Sa\'adatu Modibbo-Kawu     Issa Manzuma     Jelili Yusuf     Volunteers Of Ilorin Community And The Emirate     Charles Ibitoye     Ariyo     Binta Sulyman     Adamu Attah     Women Radio     Abdulrahman Abdulrazak     Olatunde Jare     Baba-Isale     Osuwa     Rafiu Ibrahim     Jimoh Akani     Saudat Abdulbaqi     Muhammadu Buhari     Kola Shittu     Kayode Oyin-Zubair     Musa Alhassan Buge     KWTV     Ishaq Abdulkarim     Rice Farmers Association Of Nigeria     Shao     Mufutau Gbadamosi Esuwoye     Oba Abdulrahim     Moses Rahman Popoola     Ishola Moses Abiodun     Oba Abu     Iqra Books     Ridhwanullah Al-Ilory     Oyedun Juliana Funke     Rapheal Ashaolu     KWSIEC     Jaigbade Alao     Saka Adeyemo     Federal Polytechnic Offa