PRINCE OTU COMMITTED TO TRANSFORMING CROSS RIVER STATE TO A FINANCIALLY INDEPENDENT ENTITY.
Under the administration of Sen. Prince Bassey Edet Otu and the supervision of Prince Edwin Okon, the focus on growing the internally generated revenue (IGR) of Cross River State, Nigeria has had a significant impact and holds great importance. Increasing the IGR has numerous benefits for the state’s economy and overall development.
Firstly, growing the IGR enables Cross River State to reduce its dependence on federal allocations and grants. This is vital because it provides the state with a sustainable and reliable source of revenue. By generating more revenue internally, the state can fund its various developmental projects, such as infrastructure development, education, healthcare, and social welfare programs.
Secondly, a robust IGR helps to strengthen the financial capacity of the state government. With increased revenue, the state is able to provide better services and support to its citizens. This can translate into improved public infrastructure, enhanced security measures, efficient governance, and better access to quality healthcare and education.
Additionally, growing the IGR promotes economic growth and encourages investment. When the state has a healthy revenue base, it creates an attractive environment for businesses and investors. This, in turn, leads to job creation, increased economic activities, and improved living standards for the people of Cross River State.
Moreover, when the IGR increases, it enables the government to diversify its revenue sources. This reduces the vulnerability of the state’s finances to external shocks and fluctuations in oil prices. By exploring other sectors, such as agriculture, tourism, manufacturing, and services, Cross River State can build a more resilient and sustainable economy.
The efforts to grow the IGR under the leadership of Sen. Prince Bassey Edet Otu and the supervision of Prince Edwin Okon reflect a commitment to transforming Cross River State into a financially independent and prosperous entity. By focusing on revenue generation, the administration aims to create a self-sufficient state that can fund its people’s first development agenda and provide a high standard of living for its citizens.
The state Internally generated revenue has grown from 1.8 billion to 2.8 billion under the space of 3 months of the administration and leadership of governor and Mr. Edwin Okon..