The Chairman of Cross River State Internal Revenue Services (IRS), Prince Edwin Okon has expressed optimism that the state would in no time witness a turnaround as revenue generated internally has increased to ₦32.4 billion as at the end of May, 2024.
Prince Okon disclosed this in Calabar on Friday while delivering a speech to mark his one year in office.
The IRS chairman expressed optimism that the state’s revenue potential can generate an average of N5bn monthly in 2025 with an expected total revenue of N60bn revenue, if properly harnessed.
“Upon assumption in office, I met an average monthly revenue of ₦1.7 billion and ₦1.8 billion. Indeed the corresponding proceeding period stood at ₦22.6 billion in 2023 but this grew to over ₦32.4 billion representing 62% growth at the end of May 2024,” he stated.
He added that a projection of ₦70 billion and ₦80 billion for the year 2026 and 2027 respectively has been set, adding that he has introduced several changes which are responding to revenue growth that has brought improvement in the operations of the Cross River State internally generated revenue.
The IRS chairman maintained that the administrative restructuring in the service has brought improved staff welfare, robust and expanded taxpayers and stakeholders engagements and improved as well as robust Automation System to block leakages.
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