Prince Edwin Okon, Chairman of the Cross River State Internal Revenue Services (IRS), announced on Friday that the state’s internally generated revenue had surged to ₦32.4 billion by the end of May 2024, marking a significant boost in financial performance.
According to dailypost.ng, Prince Okon disclosed this in Calabar while delivering a speech to mark his one year in office.
He expressed optimism that the state’s revenue potential can generate an average of N5bn monthly in 2025, totalling N60bn in revenue for the year.
The IRS Chairman praised his effort so far in office, stating that the state’s average monthly revenue has increased by a very significant number.
He said “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 added that a projection of N70 billion and N80 billion for the year 2026 and 2027 respectively has been set.
Okon maintained that the administrative restructuring in the service has brought improved staff welfare and expanded taxpayers and stakeholder engagements.
