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.

Raymond Olaitan     Presidential Election     Baba Idris     Kwara Pdp     Saudat Abdulbaqi     Salihu Ajia     REO CAKES     Abioye Bello     Fola Consultant     Read With Me     Jani Ibrahim     VADA     Babatunde Ishola Babaita     Abdulrazaq Magaji     IPSAS     Saduki Lafiagi     Suleiman Mora Omar     Alloy Chukwuemeka     Lanre Issa-Onilu     Seun Bolaji     George Funsho Adebayo     Alabi Lawal     Oko-Erin     Overland     Abdulraheem Yusuf     S.O. Opowoye     SWAN     Idi-Ape     Ballah     Jimoh Bashir     Funke Adedoyin     Ishak Mohammed Sabi     David Oyepinola Adedumoye     Oluwole Dupe     James Kolo     Olushola Saraki     Sanusi Abubakar     Kwara State Sports Commission     Akande Idowu Ayoola Muhammed     Micheal Imodu-Ganmo Road     Budo-Egba     ITEM 7     Bature Bello     Abdullahi Imam Abdullahi     Aasiyat Bello Oyedepo     Tsado Manman     Musa Yeketi     Risikat Lawal     Moses Rahman Popoola     Ojuekun Sarumi     Sarah Alade     Baboko Primary School     Yusuf Lawal     Adamu Ibrahim Sabi     Ajibike Katibi     Kayode Oyin-Zubair     Saadu Alanamu     Muhammed Taofeeq Abdulrazaq     Bisi Kristien     Kwha.gov.ng     Rotimi Samuel Olujide     Fatimoh Lawal     Quranic Recitation Competition     A.O. Belgore     Federal Neuro-Psychiatric Hospital     Yahaya Seriki     Falokun-Oja     Balogun-Ojomu     Abdulmutalib Shittu     Kwara United     Muritala Awodun     Haruna Tambiri Mohammed     IHS     Sarakite     Aliyu Muhammad Saifudeen     Isiaka Gold     Jide Ashonibare    

Cloud Tag: What's trending

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

Summit University     Yakubu Danladi     Gamji Members Association     Michael Nzekwe     Folaranmi Aro     Muhammed Aliyu     Kaosarah Adeyi     Wahab Agbaje     Yusuf Aiyedun     UITH     Kayode Ibrahim     Facebook     Umaru Saro     Emmanuel Olatunji Adesoye     Sun Qing Rong     Ahmed Bolaji Nagode     Iyabo Adisa Ibiyeye     Deji Ajani     COVID-19 Palliatives     Aisha Ahman Pategi     Kayode Alabi     Babaloja-General     Societe Generale Bank Of Nigeria     Ibrahim Taiwo     Olumide Daniel Ibitoye     Durbar     Grillo     Maimunat Oloriegbe     Jani Ibrahim     Ope Saraki     Harafat E. Mukadam     Oloriegbe     Salihu Yahaya     Fatima Abolore Jimoh     Musibau Akanji     Pacify Labs     Bello John Olanrewaju     Oluwarotimi Boluwatife Adenike     Share/Tsaragi     Afonja     James Kolo     Awwal Jawondo     Abdullahi Dasilva Yussuf     Rabiu Kwankwaso     Jide Oyinloye     FOMWAN     Seed Technologies     Usman Yunusa     Olaosebikan     Alabi Olayemi Abdulrazak     Standard Organization Of Nigeria     Laduba     Eleyele     Kola Adesina     Abdulrahman Abdulrasaq     Sa\'adatu Modibbo-Kawu     PharmAccess Foundation     Tafida Of Ilorin     LEAH Charity Foundation     Joseph Yemi Ajayi     Olaiya Victor Mobolaji     Niyi Osundare     Lotus Bank     International Vocational Centre     Leke Ogungbe     Kemi Adeosun     Hydro-electric Power Producing Areas Development Commission     Babs Iwarere     GGDSS Pakata     Segun Ogunsola     Iliasu     Abdullahi Samari     Tafida     Ambassador Kayode Laro     Saka Abimbola Isau     Abiodun Oyedepo     Jimba Babatunde