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.

Tunji Moronfoye     Bello Oyebanji     Ohoro Of Shao     Aminu Adisa Logun     Sebastine Obasi     Olusin Of Ijara Isin     Madawaki     Emir Of Kano     Oyin-Zubair     Revenue Court     Kwara State Health Insurance Agency     Lucky Omoluwa     Abdulrahman Abdullahi Kayode     NIPR     Col. Ibrahim Taiwo     Ademola Kiyesola     Yakubu Mohammed Abdullahi     Aremu Odolaye     Aliyu Adebayo     Abdulmutalib Shittu     Kayode Oyin Zubair     Ubandoma     Rasaq Jimoh     Rapheal Ashaolu     Park     Timothy Akangbe     Afin Descendants Union Of Odo-Owa     Tunji Olawuyi     Christopher Tunji Ayeni     Asiwaju Bola Tinubu     Asa     Chikanda     Kayode Alabi     Minister     Earlyon Technologies     Apaokagi     Susan Modupe Oluwole     Kulende     Gambari     Folorunsho Erubu     Senate Presidency     Zulu Gambari     Salihu Jibril Garbi     Wasiu Onidugbe     Kwara     John Olajide Adedipe     Yemi Osinbajo     Taofik Abdulkareem     Okasanmi Ajayi     Saba Jibril     Rihanat Ajia     Muideen Olaniyi Alalade     Onikijipa     Idris Garuba     Olokoba     Ibrahim Abiodun     Baruba     Wasiu Odewale     GGDSS Pakata     NULGE     Alaiye     Oluwarotimi Boluwatife Adenike     Oba David Oyerinola Adedunmoye     Agboola Abdulraheem     Kwara State Branch Of The National Library     Funmilayo Braithwaite     Raimi Iyanda     Prince Bola Ajibola     Issa Memunat Moyosore     Kwara TV     Road Transport Employers Association Of Nigeria     Olatinwo     Kale Kawu     Sidikat Alaya     Baakini     AbdulRazaq Abubakar Jiddah     Women Radio    

Cloud Tag: What's trending

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

Esuwoye     Salau Kabiru Abdullahi     Yusuf Abdulkadir     Muyiwa Oladipo Kanu     AbdulRasaq Abdulmajeed Alaro     Kolo     Asa     Pakata Development Association     Susan Modupe Oluwole     Ahmed Saidu Rufai     Aisha Ahman Pategi     Sheikh Ariyibi     Abdulrosheed Okiki     Galland Marcias     Kwara Polytechnic     Damilola Yusuf Adelodun     Kwara Apc     Shola Odetundun     Mohammed Abdulahi     ER-KANG Mining     Lotus Bank     Oke-Kura     Vasolar-Kwara Company Ltd     Bashiru Makama     Alloy Chukwuemeka     Wasiu Odewale     Kwara North     Sardauna     Kannike     Igbaja     Bello Bature     Asa LGEA School     UNIFEMGA     Femi Ogunsola     Kanu Agabi     Rotimi Atere     Saba Mamman Daniel     Kayode Oyin Zubair     Kayode Ogunlowo     Kisira     Shehu Alimi Foundation     Ogbondoroko     State Bureau Of Internal Revenue     General Hospital, Offa     Mohammed Yisa     Abdulrasaq Alaro     Mohammed Ghali Alaaya     Moshood Kashimawo Abiola     Kazeem Gbolagade     Okasanmi Ajayi     Monsurat Omotosho     Moshood Mustapha     Kayode Zubair     Frootify     Sebastine Obasi     Oniye     Aliyu Kora Sabi     Yinka Aluko     Balogun-Ojomu     COVID     Muhammad Akande Olarewaju Odunade     AbdulHamid Adi     Lanre Aremu     Amos Sayo     Grillo     Photo News     Col. Ibrahim Taiwo     Oloye     Seni Saraki     Mutawali     Mustapha AbdulGaniyu     Dairo Kunle Paul     Abdulkadir Orire     Ajia-Bako     Ella Supreme Tissue Paper     Patience Jonathan     Sulaiman Gado