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.

Abdulrahman Abdulrazak     Adolescent Girls Initiative For Learning And Empowerment     Balogun-Ojomu     Olabanji Orilonishe     Adamu Jemilat-Baki     George Funsho Adebayo     Yusuf Amuda Aluko     Ezekiel Yissa Benjamin     Balikis Jawondo     Arca Santa     Odo-Owa     Elerin Of Erin-Ile     Abubakar Baba Sulaiman     Apata Ajele Secondary School     Yusuf Lanre Badmas     Amosa     Bayo Ajia     Olupako Of Share     Lawan     Haashim Initiative For Community Advancement     Haruna Tambiri Mohammed     Abdulkarim Adisa     Olaoye B. Felix     Kazeem Gbolagade     Kwara     Bamidele Adegoke     The Herald     Aliyu Adebayo     Oluronke Adeyemi     Tosho Yaqub     Lawyers Unite Against Corruption     Simeon Sule Ajibola     TIC     Ibrahim Labaika     Abubakar Kawu Baraje     General Hospital, Offa     Tanke     Bureau Of Lands     Nigerian Correctional Service     Jawondo     Agbarigidoma     Clara Nwachukwu     Bamidele Adegoke Oladimeji     Kwara Metro Park     Lucky Omoluwa     Riskat Opakunle     Age AbdulKareem     Ayeyemi Sulaiman     Basic Education Certificate Examination     Shehu Alimi Foundation For Peace And Development     Lafiagi     Kawu Baraje     Razaq Atunwa     Daud Adeshola     Royal FM     Wahab Egbewole     Christopher Tunji Ayeni     Federal Polytechnic Offa     Aso Ofi     Alfa Yahaya Road     Seni Saraki     Shonga     Oyeyemi Olasumbo Florence     Forgo Battery     Yahaya Oloriegbe     Joseph Yemi Ajayi     Abdulrauf Yusuf     Charles Ibitoye     Code Of Conduct Tribunal     HICA     Afolabi-Oshatimehin     Olayinka Oladapo Jogunola     Press Release     Ahmad Uthman     Ibrahim Mohammed     Yusuf Babatunde Abdulwahab     Bolaji Aladie    

Cloud Tag: What's trending

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

Noah Yusuf     LEAH Charity Foundation     Ogidi-Oloje     Monthly Sanitation     Bayo Ojo     Suwa-Arabs     Akanbi-Oke     Adolescent Girls Initiative For Learning And Empowerment     Okin Biscuit     School Of Nursing     Bashirat Bola Bello     Shehu Adaramaja     Saka Keji     Alimi Abdulrazaq     Olatinwo     Aisha Gobir     Tayo Awodiji     Congress For National Consensus     Galadima     Aliyu Muhammad Saifudeen     Ajayi Okasanmi     Curfew     Trade Lenda SME Fair     Abdulwahab Oba     Afonja     Saka Aleshinloye     Sardauna     Lukman Oyebanji Fagbemi     SUBEB     Muhammed Aliyu     Mohammed Kamaludeen     Ibikunle Ogunleye     Monsurat Omotosho     Sarafadeen Kayode Akorede     Musa Alhassan Buge     Omotoso Musa     National Union Of Road Transport Workers     Michael Ologundea     Yaru     Abatemi-Usman     Mohammed Ibrahim     College Of Arabic And Islamic Legal Studies     Elewu     Hameed Oladipupo Ali     LAK Jimoh     Ethical College     Muhammad Yahya     Aliyu Umar     Isapa     Adamu Attah     Olatunji Ibrahim     Sulyman Tejidini     KWASAA     Offorjama     IEDPU     NULGE     Saadatu Modibbo-Kawu     Ayekale     Kwara Metro Park     High Court     Michael Nzwekwe     Toyin Saraki     Overland     Kwara State Football Association     Bola Iyabo Ibiyeye Adisa     Oba Mogaji Abdulkadir     ASKOMP     Jumoke F. Ajao     Shettima Of Ilorin     Sambo Murtala     Muideen Olaniyi Alalade     Abdulrahman Abdulrazaq     PharmAccess Foundation     Oniyangi Kunle Sulaiman     Tosho Yaqub     Mary Kemi Adeosun     Allocation