The Cross River State Commissioner for Finance, Mr Michael Odere, has revealed a remarkable 100% increase in the state’s Internally Generated Revenue (IGR) within the first year of the current administration.

The commissioner stressed the state’s strategic focus on developing comparative advantages in education, agriculture, transportation, and mineral resources to achieve self-sustainability.

Odere disclosed this in Abuja during an exclusive interview with The Guardian. He said the achievement is not attributed to new businesses flooding the state but rather to the successful implementation of automation and leakage reduction measures.

He said that the state has been hailed as one of Nigeria’s most financially transparent states, receiving numerous awards from reputable multilateral agencies, including the World Bank.

Odere said: “We came into government just about a year ago, but our internally generated revenue has increased by over 100%. It’s not like new businesses just came in, but we have been able to reduce income leakages through automation and other measures. And then we are creating avenues for businesses to flourish.

“So, we are seeing new businesses growing and people beginning to be self-sustaining. If businesses can spring up, people will depend less on the government.

“And the government can concentrate on creating the enabling environment for them to flourish. So, we can provide business communities with water, roads, electricity, and security, which will help businesses survive. Businesses will not be expecting handouts, bailouts, and palliatives if they can’t generate their own revenue.

“So, our strategy is to create more avenues where people can make their own money and reduce dependence on the Federation’s funds. Even as a state, we are also creating avenues to leverage our comparative advantages in education, agriculture, transportation, and minerals.

“We have a lot of mineral resources to make ourselves self-sustaining and reduce our dependence on the Federation for monthly handouts.

“So, we are trying to look inward, assess ourselves, and develop our economy to be self-sustaining. That is how we intend to overcome the financial and cash challenges we currently face.”

The commissioner also attributed the state’s success to its commitment to accountability and innovative technology.

He added: “We have received many awards for being financially transparent from multilateral agencies, the World Bank, and other organisations. We are transparent in our dealings.

“We conduct most of our transactions online, and electronic records are easy to track and follow up. Cross River State has been one of the most financially transparent states in the country.”