Cross River Internal Revenue Service: Documentary Of The Last One Year In Office

 LAST 365 DAYS IN PERSPECTIVE

In furtherance to the developmental agenda of the Governor Bassey Otu-led administration to revive, re-invigorate, re-invent and reposition the State to a new Cross River, the Internally Generated Revenue (IGR) apparatus needed to be reshaped to deliver on the mandate of increasing Revenue which apparently, led to the appointment of an erudite professional Prince Edwin Okon as the Chairman of Cross River Internal Revenue Service on the 19th June, 2024 by His Excellency, the Governor.

On assumption of office, the Acting Chairman met an average monthly revenue of N1.7 billion and N1.8 billion. The corresponding preceding period stood at N22.6billion in 2023 whereas the revenue grew to over N32.4billion representing 62% growth at the end of May, 2024. The Prince Edwin Okon led management infused several critical changes that are responding to revenue growth and some revenue actors are closely monitoring the growth principles of the Executive Chairman who was confirmed by the State House of Assembly in March, 2024 in appreciation to his unprecedented Internally Generated Revenue (IGR) growth and to fulfill the statutory provisions of the extant laws.

The Executive Chairman introduced far-reaching policies that have triggered steady revenue growth for the State, among other things:
1.    Improved Staff Welfare:
•    Enrollment of Adhoc Staff into the State Health Insurance Scheme to guarantee healthy workforce.
•    Regular training and re-training of both permanent and Adhoc staff for increased performance.
•    Improved and conducive office accommodation as well as provision of basic working tools.
2.    Robust and Expanded Taxpayers and stakeholders Engagement(s)
•    Regular engagement and collaboration with critical stakeholders.
•    Training of Revenue Consultants and Agents to fully integrate into the revenue agenda of the new and rebirth IRS.
•    Engagements  with corporate Taxpayers at their  operational bases to further elicit their cooperation and compliance.
•    Special focus on the rural taxpayers’ sensitization through the traditional rulers machination for all inclusive participation for full implementation of the presumptive tax 2023.
•    Increased media outreach and advocacy.
3.    Improved and Robust automation system to block leakages:
•    The Service is leveraging on the automation system of our solutions partners; NUGI Technologies and Pay Talk to reduce pots of Revenue leakages.
•    Rolling out a dependable billing system across Ministries, Departments and Agencies (MDAs) to give clear and full revenue reporting, accounting and transparency.
•    Advocating the revenue harmonization of Local and State Government to provide friendly environment to attract investments.

ADMINISTRATIVE RESTRUCTURE:-
•    Creation of new operational departments to respond to the revenue aspiration of the state.
•    Decentralization of supervision to zonal offices manned by Zonal Directors.
•    Construction and creation of sub-Tax Offices to expand coverage and capture new taxpayers into the Tax net.
•    The return of motor vehicles administration from TRAMA to Internal Revenue Service for effectiveness and efficiency.

Based on the foregone, we have seen the “Prince Okonomics” principles of driving revenues have yielded the desired results in terms of growth which stands at 62% as we mark his first 365 days in office. The Executive Chairman Prince Edwin Okon remains optimistic that States Revenue potential would be fully harnessed and an average of N5billion revenue would be generated monthly in 2025 with expected total revenue of N60billion. He has set a projection of N70billion and N80billion for 2026 and 2027 respectively.

The Executive Chairman has received approval from His Excellency, the Governor to purchase in piecemeal operational vehicles to enhance revenue monitoring and supervision across the State. Despite the slim resources the Executive chairman has procured some vehicles to increase our fleet in furtherance to growing IGR.

Governor Otu had, on Saturday 15th May, 2024 when a delegation of Trade Assessors from the World Bank visited him at Government House, assured the State of expanding investors and investments in the productive sector. The Governor's assurance will by extension impact positively on the State Revenue under the leadership of Prince Edwin Okon. The achievements of the Executive Chairman in his first 365 days are reminders that the new Cross River is a reality and all hands must be on deck.