C-River targets N17bn from IGR

BY Johnbosco Agbakwuru
CALABAR — The Cross River State Government has set a target of N17 billion to be realised as Internally Generated Revenue, IGR, to finance some of the 2011 projects.

Special Adviser to Governor Liyel Imoke on Budget Implementation, Monitoring and Evaluation, Dr. Peter Oti, who disclosed this in a media interaction in Calabar, said that the government decided to set the high target, expecting that there will be a complete reform of the Internal Revenue Service, IRS.

Dr. Oti said though between 2008 till date, the state had not  achieved its targets on IGR as the actual had always been on the increase, it was determined to achieve a remarkable success.

The Special Adviser noted that since the 76 oil wells belonging to the state were ceded to Akwa Ibom State, the financial status of the state had been affected, adding that it was what led to the downward review of the state’s 2009 and 2010 budgets.

He explained that when the government was preparing the 2010 budget, there was the expectation that the 76 oil wells would be given back to the state and the budget projection was hinged on that, regretting that the expectation was dashed as the state was still being denied its rightful property.

Oti said despite the financial challenges the state was faced with, the government was still focused and manages the meager resources for the benefit of its citizenry.