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.

Nigerian Supreme Council For Islamic Affairs     Hikmah AbdulKareem     Curfew     Yusuf Amuda Gobir     Ayedun     Ajakaye     Amule Elementary School     Oba Abu     Rafiu Olasile     Quarry Royal Valley     KWATMA     Ilesha-Baruba     Mohammed Katsina Ahmed     Turaki Of Ilorin     Ajase-Ipo     Oye Tinuoye     Bello Oyedepo     Law School Scholarship     Taofeeq Olateju     Tsaragi     Young Progressives Party     Folorunsho Erubu     General Hospital, Offa     Sa\'adu Gambari     Abubakar B.M     CACOVID Palliatives     Abdulwaheed Musa     Oyedepo     07039448763     Mahfouz Adedimeji     Balogin Alanamu     Ahmed Saidu Rufai     ARMTI     Olufolake Abdulrazaq     Kazeem Gbolagade     Salman Alada     Arca Santa     Okoolowo     Muhammadu Gobir     Pilgrims Board     Illyasu Abdullahi     Abubakar Bature Sulu-Gambari     Obayomi Azeez     Segun Olawoyin     Alfa Yahaya Road     Geri-Alimi Split Diamond Interchange     Amusa Bello     Dan-Kazeem     Ibrahim Oloriegbe     GRA     Oba-Solagberu     KwaraLearn     First Lady     Olupako     Mustapha Akanbi     Standard Organization Of Nigeria     Idowu Aremu     Abdullahi Adisa Akodudu     Ishaq Salman     Babajide Ajayi     Ben Duntoye     Kwara State Infrastructure Development Fund     Hamid Bobboyi     Yetunde Balogun     Isa Aremu     Ajibola Ademola Julius     Aasiyat Bello Oyedepo     Afolasade Opeyemi Kemi     Abubakar Abdulraheem     Shao     Ahmed Shuaib Buranga     Fawenu     Igbaja     Kunle Akogun     Dan Masanin     Toyosi Thomas     Undergraduate Bursary    

Cloud Tag: What's trending

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

Obasanjo     Abdulrazaq Adebayo     Village Alive Development Association     Ilorin Curfew     Olatunji Bamgbola     Ibrahim Abdullahi     Prince Bola Ajibola     Ibrahim Orire     Babaloja-General     Micheal Imoudu     Issa Memunat Moyosore     Rafiu Ajakaye     Tosho Yaqub     Abdulrasaq Alaro     Federal Road Maintenance Agency     Michael Nzekwe     Government High School Adeta     Ishaq Salman     Jalala     Aliyu Sabi     Ayobami Seriki     Sabitiyu Grillo     Federal Neuro-Psychiatric Hospital     Baakini     Ajeigbe     Principal Private Secretary     Kwara Apc     Abioye Bello     Sobi Specialist Hospital     Lateef Ademola Olatunji     Joseph Alex Offorjama     Ibrahim Agboola Gambari     Bashir Omolaja Bolarinwa     John Dara     Saheed Popoola     Abraham Ojo     Soffiyyallah Kamaldeen     Nurudeen Muhammed     Kisira     AbdulRauf Keji     Government High School (GHS), Adeta     Isiaka Alikinla     Tsaragi     Femtech     Olaitan Buraimoh     Balogun Gambari     Igbaja     Ahman Pategi University     Durosinlohun Kawu     20 Billion Bond     Muslim Cementary     Alapado     Micheal Imodu-Ganmo Road     SSA Youth     Gbugbu International Market     PharmAccess Foundation     Magaji Are     Abdullahi G. Mohammad     Quran     Bayo Mohammed Onimode     Haashim Initiative For Community Advancement     Buhari     George Funsho Adebayo     Offorjama     HYPPADEC     Abikan     Tunde Idiagbon Road     Kayode Ogunlowo     Air Peace     Adeniyi Ojo     Elesie Of Esie     Okin Malt     Hydro-electric Power Producing Areas Development Commission     UNILORIN Alumni     Atunwa     Kayode Bankole     Toun Okewale-Sonaiya