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.

Bolaji Nagode     Barakat Community Secondary School     Abioye Bello     CBT     JMK Construction Company Limited     Sulyman Abdulkareem     Naira Redesign     Hakeem Lawal     Salman Jawondo     Kwara University Of Education     Musa Abdullahi     Iyabo Dupe Adekeye     Omotosho     Mahmud Durosinlohun Atiku     Justina Oha     Nurudeen Mohammed     Jaigbade Alao     Magaji Are     Tafida Of Ilorin     Iyaloja-General     Manzuma     Oyawoye     Tsaragi-Share     National Information Technology Development Agency     Abubakar Imam     National Party Of Nigeria     Bashiru Makama     Bola Iyabo Ibiyeye Adisa     Oja-Oba     Adamu Atta     Mujtabah Bature     Pakata Development Association     Suleiman Ajadi     Olabode Towoju     Olupako Of Share     Bareke     Baba-Isale     Oke Sunna     Zubair Folorunsho Erubu     Amuda Musbau     Suwa-Arabs     Sa\'ad Alanamu     Zulu Gambari     Hamid Bobboyi     Benin Republic     Yahaya Dumoye     REO CAKES     Belgore     Sarah Jubril     Garba Ayodele Wahab     Principal Private Secretary     Suleman Abubakar     Soffiyyallah Kamaldeen     Otuka     Christopher Tunji Ayeni     Toun Okewale-Sonaiya     Ilorin Talaka Parapo     Adedipe     Abubakar Abdulraheem     Ilorin East/South Federal Constituency     KSIRS     Centre For Community Empowerment And Poverty Eradication     Bankole Omishore     Rafiu Ibrahim     Mazars Consulting     Gobirawa     Taibat Ayinke Ahmed     Moses Salami     Shehu Raheem Adaramaja     Bilikisu Oniyangi     AbdulRauf Keji     Shehu Alimi Foundation     Umar Adelodun     Alumni Association Of The Federal Polytechnic Offa     Joseph Daudu     Ibrahim Mashood     Kwara State University Of Education    

Cloud Tag: What's trending

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

Ayodele Olaosebikan     Mohammed Ibrahim     Oloyede     Abubakar B.M     Kpotum Mohammed Baba     Mashood Abdulrafiu Agboola     Alaiye     Voices Of Tomorrow     Oniyangi Kunle Sulaiman     Boko Haram     Ayobami Akanbi     Kwara State Television     Ilofa     Okin High School     Isau     Iyiola Oyedepo     Muhammed Aliyu     Kola Bukoye     Christopher Tunji Ayeni     Sa\'adu Gambari     VADA     Taofik Mustapha     State Bureau Of Internal Revenue     Samuel Elizabeth Keatswa     Police Commissioner     Daud Adeshola     Amule Elementary School     Ojuekun Sarumi     Lasiele Alabi Yahaya     Adewuyi Funmilayo     Special Adviser On Digital Innovation     Leke Ogungbe     Suleiman Yahya Alapansapa     Pakata Patriots     Chemiroy Nigeria Limited     CBT     Ibrahim Bio     Charcoal     Ghali Muhammed     Olomu Of Omu-Aran     Unilorin FM     Jumoke F. Ajao     Age AbdulKareem     Lai Mohammed     Mohammed Abduraheem     Isiaka Rafiu Mope     Mumeen Lah     Public Holiday     Femi Oladiji     Aliyu Muyideen     Toyin Olayinka Tejidini     Saadu Alanamu     Shuaib Jawondo     Joana Nnazua Kolo     Muhammed Taofeeq Abdulrazaq     ASKOMP     Kehinde Boyede     Kamaldeen Kehinde     Idiagbon     Sambo Murtala     Ilorin West     Mazars Consulting     Lawan     The Herald     Idofin     Musa Ayinla Yeketi     SWAN     Abubakar Lah     Kwara Primary Health Care Development Agency     Kwara State University Of Education     Labaeka     Saidu Kawu     Iliasu     Abdulrahman Onikijipa     Ahmed \'Lateef     Raymond Olaitan     Temitope Ogunbanke