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.

Muhammed Akanbi     08001000100     Old Oyo     Saka Isau     Abdullahi AbdulMajeed     International Aviation College     Shuaib Jawondo     Ahman Patigi     Abdulrasaq Alaro     Fareedah Dankaka     Press Release     Amuda Aluko     Alanamu     Haliru Dantoro     Bolakale Kawu Agaka     MATTA Girls Foundation     Council Of The Wise     Toun Okewale-Sonaiya     Ijagbo     Kwasu     Wahab Abayawo     High Court     Aishat Mohammed Lawal     SSUCOEN     Ahmed \'Lateef     Lai Gobir     CCEPE     Dunmade     Ishak Mohammed Sabi     Colleges Of Education Academic Staff Union     Balogun Fulani     Pakata Patriots     Flights To Ilorin     Bureau Of Lands     Abikan     CLAY POT     PPS     Alore     Dagbalodo     Abdulwasiu Bolaji Adeyi     Yusuf Lanre Badmas     International Vocational Centre     Muideen Olaniyi Alalade     Suleiman Idris     Kolo     Taofeeq Olateju     Omupo     IYA ALFA NLA     Mahmud Ajeigbe     Alloy Chukwuemeka     Tafida Of Ilorin     Ayobola Ipinlaiye     Bond     Baaziki Sulaiman     Peter Obi     Quareeb     Peculiar Allowance     Chief Imam Of Ilorin     University Road     Abdulrazaq Adebayo     Fatai Adeniyi Garba     Femi Ogunsola     Adisa Logun     Ahmed Saidu Rufai     KWACOBPA     Folashade Omoniyi     Shehu Raheem Adaramaja     Young Progressives Party     Kunle Akogun     Aiyedun     Rebecca Bake     Abioye Bello     Segun Abifarin     Jawondo     Kehinde Boyede     Rebecca Olanrewaju     Abatemi-Usman    

Cloud Tag: What's trending

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

Afolabi-Oshatimehin Adenike Harriet     Okedare     Rotimi Atere     Ilorin East     Rotimi Samuel Olujide     Kehinde Baale     Chief Imam Of Lafiagi     UTME     March 18     Abdulkadir Orire     Village Alive Development Association     20 Billion Bond     Adegoke Bamidele     Ilorin Emirate Staff Association     Law School Scholarship     Yusuf Abdulraheem     S.O. Opowoye     Lawal Arinola Kudirat     Sa\'adatu Modibbo-Kawu     Moshood Mustapha     Www.Kwarareports.com     Kwara State Branch Of The National Library     Convocation Ceremonies     Abdulganiyu AbdulAzeez     Salaudeen Oyewale     Ayodele Olaosebikan     Abdulrahman Abdulrazaq     Mufutau Gbadamosi Esuwoye     Oniyangi Kunle Sulaiman     Ubandawaki     Abdulmalik Bashir Mopelola Risikatullahi     Niyi Osundare     Lafiagi     Ajibike Katibi     Emir Of Kano     Eleja Taiwo Banu     Olaitan Buraimoh     Ebola     Ministry Of Women Affairs And Social Development     Monthly Sanitation Exercise     Salihu Jibril Garbi     Ilofa     Tsaragi     Haliru Yahaya     Paul Olawoore     Kwara Muslim Pilgrims Welfare Board     COVID     Funmilayo Braithwaite     Hakeem Idris     Seni Saraki     Admiralty Villa     Tanke     Ibraheem Abdullateef     Abdulganiyu Salahudeen     Amada Jidda     Kale Kawu     Yakubu Gobir     Olushola Saraki     Jamila Bio Ibrahim     Alapado     Nurudeen Muhammed     Ojuekun Sarumi     Tinubu     Abatemi-Usman     Moshood Kashimawo Abiola     Siddiq Adebayo Idowu Salawu     Bola Sagaya     Shehu Alimi Foundation For Peace And Development     Ilorin     Muhammed Taofeeq Abdulrazaq     Leke Ogungbe     New Nigeria People’s Party     Muhammad Fawaz Abubakar     Joseph Alex Offorjama     Surajudeen Akanbi     Tope Daramola     Hijaab