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.

Federal Allocation     Adijat Adebiyi     Ekweremadu     Rihanat Ajia     Omotosho     Halimah Perogi     Rabiu Kwankwaso     Shagari     Wahab Egbewole     Alimi     Mahmud Durosinlohun Atiku     National Broadcasting Commission     Emir Of Yashikira     Adama Isa     Akume     Abdulmumini Sanni Jawondo     20 Billion Bond     James Kolo     Aisha Abodunrin Ibrahim     Oasis Muslim Care Foundation     Agbarere     Olayinka Olaogun     Kayode Ishola     Roheemat Hammed     Shoprite     Jumoke Monsura Gafar     Rafiu Olasile     Gbemi Saraki     Sa\'adu Salau     CCT     KWSIEC     Idowu Aremu     Dauda Adeniran Adeshola     Shaykh Luqman Jimoh     Senior Ibrahim Suleiman     Oniwasi Agbaye     Maigida Soludero Transit     Kwabes     SDP     Yakubu Mohammed Abdullahi     Lafia Aliyu Korasabi     Kola Bukoye     Towobola Abdulrahman Toyin     Olatunji Ayeni     College Of Arabic And Islamic Legal Studies     Shola Odetundun     Nurudeen Muhammed     Baba Issa     Gurei     Muhammed Mahe Abdulkadir     Fatima Abolore Jimoh     Oye Tinuoye     Budo-Egba     Madawaki     Amule Elementary School     Ahmed Ayinla Jimoh     Marafan Shonga     Agor Market     Isaac Aderemi Kolawole     Awodun     Earlyon Technologies     Ilorin Emirate     IYA ALFA NLA     Hussein Olokooba     Nupe     Erin-ile     Monsurat Omotosho     Olaosebikan     Sam Onile     Sheikh Hamzat Yusuf Ariyibi     Mohammed Khadijat Kubura     Musa Abdullahi     Saidu Kawu     Jebba     Ilorin Descendants Progressive Union     RTEAN     Moji Makanjuola    

Cloud Tag: What's trending

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

IsDB     Abdulmumin Yinka Ajia     Ethical College     Moses Adekanye     Titus Ashaolu     Sheriff Shagaya     Emir Of Shonga     Yusuf Abubakar     Oluwarotimi Boluwatife Adenike     Ahmed Bolaji Nagode     Samuel Adaramola     General Tunde Idiagbon International Airport     Allocation     ASKOMP     Kwara Poly     Makama Of Kaiama     Popo-Igbonna     AbdulGaniyu Kareem     Diagnostic Centre     International Public Sector Accounting Standards     Oba Abdulraheem     Mufutau Gbadamosi Esuwoye     Lafiagi     Idris Amosa Oladipo Saidu     Hijab     Ilorin Emirate Staff Association     Sadiq Buhari     Alfa Modibo Belgore     Raymond Olaitan     Salami Adekunle     TVC Female National Debate     Lateef Alagbonsi     PAACO-PCL Consortium     Pacify Labs     Shuaib Olarongbe     Maryam Nurudeen     First Lady     Adanla-Irese     Muhammad-Mustapha Suleiman     United Nigeria Airline     Emmanuel Olatunji Adesoye     Federal Allocation     Bola Shagaya     Mahmud Ajeigbe     NaAllah     IQRA College     Timothy Olatunde Fadipe     SARS     KW-GIS     Ilorin Emirate Stakeholders Forum     Ayo Salami     Afolabi-Oshatimehin     Talaka Parapo     Azeez Bello     Isiaka Gold     Lafia Aliyu Korasabi     Ahmed Ayinla Jimoh     Haliru Yahaya     Medview Airlines     Ibrahim Orire     Rotimi Oyedepo     Tunji Olawuyi     Olaitan Adefila     Kwara Metro Park     GAMA     Atiku     Oke-Oyi     Muslim Cementary     Funmilayo Oniwa     Saeedat Aliyu     Abdulrahman Abdulrazak     Magaji Are     Umar Ahmed Gunu     Labaeka     Obayomi Azeez     Afolabi-Oshatimehin Adenike Harriet     National Information Technology Development Agency