FG stalling our move to access N23b bond -KWSG ...targets N1.5b IGR ilorin.info/fullnews.php?id=12619 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 nations 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 . - See more at: ilorin.info/fullnews.php?id=12619
Posted on: Wed, 14 Jan 2015 10:03:03 +0000
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