Cross River Internally Generated Revenue hits N31.4bn

By Frank Ulom

The Governor of Cross River State, Sen. Bassey Otu has revealed that the state’s Internally Generated Revenue, IGR, has hit N31.4 billion.

Otu stated this last weekend at the just concluded APC stakeholders meeting in Calabar, adding that, “The state has witnessed an increase in revenue from N22 billion as of December 2022 to N31.4billion at the end of December 2023 – representing a 56% growth Year-on-Year.”

He also stated that the State now ranks in the top 15 states in the Federation in terms of internal revenue generation.

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“Suffice to mention that the State was able to achieve a 92% revenue performance against budget upon assumption of office between June and December 2023; when compared to the 67% against budget between January and May 29, 2023.

“Another major achievement recorded by the CRIRS has been the generation of revenue amounting to N7.86 billion from the MDAs in 2023 compared to the average of N3.2 billion in the past 7 years indicating over 100% increase.

“The above feat has been achieved due Majorly to the support of the governor and strategies and innovations introduced by the new Management Team of the Service headed by the Executive Chairman, Prince Edwin Okon.

“The service continues to work on blocking of leakages, reconciliation of unreported revenues, increased oversight functions, regular engagement with taxpayers and robust staff training and awareness campaign amongst others. All to ensure improved revenue generation to meet the government’s set targets and goals.

“The service also continues to tighten controls to reduce multiple taxation, and harmonise Local government and State taxes/levies to ensure improvement of ease of doing business in the state,” he said.