Cross River records 209% revenue growth in 18 months

The Cross River State Internal Revenue Service (IRS) said it achieved 209% increase in tax revenue over the past 18 months, a milestone attributed to enhanced efficiency and strategic reforms.

This achievement was highlighted at the commissioning of the newly remodeled Calabar 1 IRS Tax Office where Cross River State Governor, Senator Bassey Edet Otu, was represented by the Commissioner for Finance, Michael Odere.

Speaking at the event, Otu reaffirmed the state’s commitment to financial efficiency, technological innovation, and improved taxpayer services.

Otu attributed the significant revenue growth to a series of strategic reforms, automation of revenue collection, and the dedication of the Cross River State IRS team, led by Chairman Edwin Okon.

“The remodeling of this one-stop tax office is a testament to our commitment to making tax payment seamless for individuals and businesses in Cross River State while also providing our workers with a befitting environment to deliver greater results,” he said.

“Our goal is to enhance internal revenue generation, which is key to the state’s financial health and attractiveness to investors.”

In his remarks, IRS Chairman Edwin Okon reflected on the agency’s transformation under his leadership.

He recalled his initial reluctance to visit the Calabar 1 Tax Office due to its dilapidated condition following a recent rainstorm but expressed pride in its complete turnaround.

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“When I eventually visited, I was determined to change things, and today, we have reversed its reputation. This office is now a desirable place to work,” Okon stated.

Highlighting the agency’s financial achievements, Okon revealed that Cross River’s Internally Generated Revenue (IGR) surged from ₦22 billion to ₦46 billion.

He noted that the IRS’s 2024 revenue target was initially set at ₦36 billion but was later raised to ₦45 billion due to their exceptional performance.

“We are committed to surpassing this target in the coming year,” the IRS Chairman added.

In his remarks, the Chief Whip of the State House of Assembly, Rt. Hon. Hilary Bisong, commended the Revenue Service for improving the revenue profile of the State.

The lawmaker pledged the Assembly’s support to the continuous growth of IRS as well as the overall good of the finance ecosystem and the state at large.