ASUQUO EKPENYONG COMMENDS LEGOR IDAGBO’S POLITICAL INITIATIVES

By Florence Kekong

Cross River Commissioner for Finance, Mr. Asuquo Ekpenyong Jr. has commended Hon. Legor Idagbo, Member, representing Bekwarra, Obudu and Obanliku Federal Constituency, for placing welfare of the people above politics.

The Commissioner who witnessed the end of year ceremony that held at Bekwarra on Wednesday, described it as a “Longstanding Empowerment Programme, most consistent and impressive”

While calling on the other politicians to take a cue from Hon. Idagbor’s laudable initiatives, Ekpenyong Jr. equally charged the Constituents to show their appreciation by way of offering continuous support to their son, who he furthered described as having result-orientated representation records at the Federal House of Representatives.

“There is no doubting the fact that Hon. Legor Idagbo is on the right path of development as he has placed people orientated empowerment programmes as a major priority.

‘I am optimistic that with the unalloyed support of his people, these laudable initiatives would grow into formidable Small and Medium Enterprises (SME), offering economic and development opportunities in the localities of the Northern Senatorial District”, he posited.

The ceremony which attracted dignitaries from across the country, ended with beneficiaries smiling

home with Tri-cycles, mini-buses, cars, grinding machines, sewing machines, among other gifts.

Worthy of note was also, the warm reception accorded the Commissioner, when he paid a courtesy call on the newly installed Ada of Bekwarra, Hon. (Signor) Omang Ideiege, who is also Commissioner, Youth and Skills Acquisition in the State.

Receiving the Commissioner, Ada Bekwarra applauded the good gesture of Ekpenyong Jr. in the area of youth development programmes that are opening opportunities for youths to diversify and become dynamic social entrepreneurs in the ever growing global competition.

Read more

Cross River Chicken Factory, A National Pride – Reps Committee, CBN

House of Representatives Committee on Agriculture Production and the Central Bank of Nigeria (CBN) have described Cross River’s Chicken Processing Factory (Calachika) as a source of national pride.

The committee therefore, pledged to enact relevant laws to strengthen its capacity.

Cross River Chicken Factory, A National Pride

The 24000 birds per day chicken processing factory is one of the numerous agro-based industries established by the government of Professor Ben Ayade across the state.

The Chairman of the Committee, Hon. Muntari Dandustse and the Special Adviser to CBN Governor on Development Finance, Anthony Ifechukwu made this assertion during a tour of the facility situated at the Industrial Park in Calabar.

According to Hon. Dandustse, the Chicken Processing Factory was in sync with President Muhammed Buhari’s policy on Agricultural production “which greatly encourages this type of programme under the CBN. This is why we banned the importation of frozen foods.”

He urged other state governors to emulate Ayade’s strides in agro-industrialization.

His words: “This factory here is a giant stride by His Excellency, the Governor of Cross River and we hope to back it by law so that we will have a successful atmosphere whereby it will encourage this facility to have a backward integration for the economy.

“We encourage all the governors of the 36 states to emulate what Ayade is doing.”

Ifechukwu on his part said he was going back to Abuja to share the success story of the Chicken factory with the CBN Governor, Godwin Emefiele.

According to him, “this factory for me is a milestone that we should come out to celebrate and thank the Governor for his vision.

“I’m going back to tell the CBN Governor that this program has started in Cross River and we need to do much more.”

The CBN representative disclosed that as part of its intervention, the apex bank “is currently financing 400 farmers to produce broilers for this program but I see us extending the numbers to say maybe 2000 farmers which will produce the number of birds to feed this factory.

“We will work with the state government to ensure that other basic raw materials in the poultry value chain are produced”, he added

Read more

You are a selfless leader, Asuquo Ekpenyong Eulogises Obong of Calabar

Asuquo Ekpenyong Jr has described The Obong of Calabar, HRM Edidem Ekpo Okon Abasi Otu V, the grand patriarch of Efik Kingdom, as a selfless leader on his 2021 Utomo Obong Celebration. The event took place at Adiabo, Odukpani Local Government Area.

Speaking at the event, Ekpenyong Jr, who is also the State Commissioner for Finance, said that the king has impacted many lives positively in Cross River State.

“We are glad to remind you how important celebrating your heritage and crown is. For us at the Government level and Efik Professionals, your crown is one of the most cherished and adorned, and worthy of celebration every calendar year. We are always ecstatic to not only express our best wishes, but to also celebrate with you.

“When we think of you, we think of how you have positively impacted many lives in Efik Kingdom and Cross River State as a whole. And it is on this note that I and my lovely family express our profound gratitude for all your enviable successes.

“Today’s event is an opportunity for us to celebrate your majesty, as you’ve not only served as our royal father but a selfless leader.” We would like to take advantage of this special day to felicitate with you on your recent reappointment as Chancellor of Federal University Abeokuta. Unarguably. Your new feat is well-deserved and inspiring.

‘Hearty Congratulations, Amasi, May your days be long on the ancestral stool of our great fathers.”

Read more

Felicitations

President Muhammadu Buhari

President Muhammadu Buhari

The Executive Chairman, Management and Staff of the Cross River Internal Revenue Service, heartily felicitate with our President and Commander In-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, President Muhammadu Buhari, the Vice ­President, Prof. Yemi Osinbajo, members of the National Assembly, our amiable Digital Governor. His Excellency, Senator Prof. Ben Ayade, the Deputy Governor. Prof. Ivara Esu. Honourable Speaker and Honourable Members of the Cross River House of Assembly and indeed, the good people of Cross River State, on this auspicious occasion of our 61 st Independent Anniversary.

 

Senator Prof. Ben Ayade

Senator Prof. Ben Ayade

As we mark 61 years of our nationhood. we sincerely appreciate the commitment and determined effort of our Governor and other well-meaning leaders in the upholding vision of our founding fathers and sustaining the unity of our dear country, Nigeria.

We are particularly happy to be associated with Your Excellency’s industrial transformation of our dear State, and your wise decision to align with the Centre which has started attracting unusual positive attention of the Federal government to Cross River State. Your developmental stride and great passion for the less privilege in the society has inspired us to do more in our quest to upscale revenue generation towards the actualization of your Excellency’s deep vision and signature projects.

Akpanke A. Ogar, Executive Chairman

Akpanke A. Ogar, Executive Chairman

It is our prayer that the Almighty God will continue to direct the affairs of our nation and our dear State as we march towards achieving greater heights in the years ahead.

Congratulations and Happy Independence Anniversary.

Long live the Federal Republic of Nigeria!

Long live Cross River State!!

Long live Cross River Internal Revenue Service!!!

Good Citizens Pay Their Taxes, Pay Your Tax To Help Government Serve You Better

Read more

COVID-19: Maintaining Strict Protocols To Protect People

The Federal government says its strict travel protocols are put in place to protect its citizens from being infected by COVID-19 pandemic. The Minister of Information and Culture, Lai Mohammed, made this known while speaking with newsmen in Abuja on Wednesday, stating that Nigeria had been tagged as a very strict country in terms of travel protocols, explaining that the stand of the government was to protect its people against the spread of the virus.

“We have been accused that our rules are being stringent. We say no. We are not being tough for toughness sake. We are being tough because that is what science demands. We are tough because we want to protect our people. “This is why you will see that the Presidential Steering Committee (PSC) has designated and ranked different parts of the globe where the Delta variant is prevalent or the very high risk of contracting COVID- 19, and we have labelled them restricted countries. As of today we have only four of such; South Africa, India, Brazil and Turkey. And there are strict travel protocols around these countries because we want to prevent and protect our people”. He disclosed.

“The first instance, nationals of these countries are not allowed into Nigeria. If you are a Brazilian and you are coming from Brazil and Indian coming from India, a South African coming from South Africa or Turkish coming from Turkey but it doesn’t mean a Brazilian living in London cannot come, you can come if you are coming from London. And also, not everybody coming from these countries are banned, we make exemptions; diplomats are exempted, high level government officials, those coming to fix our infrastructure and economy are exempted by PSC.

“But no matter what category whether Nigerian coming from Turkey or you are exempted for whatever you are coming to do in Nigeria but you must observe the travel protocols which means you check in straight into a quarantined facility approved by the Federal Government. And when you are there, your health is monitored constantly, day two of your arrival, you will do a COVID-19 test, do another one day seven, it is only after you are tested negative at day seven that you are allowed to go home and meet your relations”, the Minister said.

He stated however that, those who are coming from non-restricted countries also have their own protocols to observe, one, they must self-isolate in their respective homes and two, day seven, they must come out and do a test before they are being discharged.

The minister said regrettably, many people who came in from non-restricted countries did not observe self-isolation and even when they did they thought it was an occasion to invite friends and relations.

“It is a dangerous practice. Those doing that are endangering their lives, the lives of their friends and relations.

If you have taken two doses of your AstraZeneca or new Modema, they will not prevent you from catching COVID-19 again, the only advantage you have, if you catch it after you took the vaccine, you won’t be terribly sick, you may not even notice it, you won’t be hospitalized and you will not die ofCOVID-19.

If someone comes in from a country like India for instance even if he is vaccinated and he meets a Nigerian who has been vaccinated, that Nigerian can still catch it because you need to have vaccinated at least 70 per cent of your population.

It is when you have vaccinated 70 per cent of your population before you can achieve what they call herd immunity. Here we are still struggling with two per cent vaccination.

So that is why we put what looks like tough travel protocols around most restricted and non-restricted countries.”

Mohammed, however, noted that this list was not final and any country Nigeria noticed that COVID-19 or delta variant was becoming endemic such country would be added to the list because it was all about safety of lives of the citizens.

Read more

Agro-Industrialization for the good of Cross River

No nation, and by extension no State, thrives without thinking, dreaming, working towards and actually actualizing its industrialization potentials. Indeed, functional industries can be said to be the hub of development at all levels of governance.

In Cross River, it took the conscious efforts and determination of the governor, Prof Ben Ayade, to literally place the feet of the state on the path of industrialization. He foresaw what had been thought of as an impossible venture in the history of the state. His larger-than-life aspirations and expectations would, over time, see the state birthing gigantic, ultra-modem industries like the Rice Processing Mill in Ogoja, and the Rice seedlings industry in Calabar; Cocoa Processing Plant in Ikom, Calachika and Calapharm, the poultry and drugs manufacturing industries, respectively in Calabar; Paradise Toothpick Factory in Ekori; and lots more.

The beauty of these industries is that their location takes a Principal Law of Economics into reckoning: nearness to raw materials. Obviously, Ikom, being a large cocoa producing area, alongside its neighbours – Etung, Boki and Obubra – it is only proper that such an industry be located there. Likewise Ogoja and rice, Yakurr and bamboo, and the metropolis, Calabar, with its need for processed poultry and medications.

Only a man with a vision in the range of Prof Ben Ayade could have made the newly unfolding vista in Cross River possible. Given the paltry revenue that comes into the coffers of the state From the federation account, and the barely there internally generated revenue, no one would have blamed the governor if he had chosen to fold his arms, doing nothing but lament the situation of the state he was elected to govern. But the erudite professor chose to don his thinking cap and go beyond the ordinary. He chose to step out of the box. As a matter of fact, he created his own box and not only determined, but worked towards achieving what is good for the state.

Today, in the reckoning of the world, Prof Ayade, a multiple award winning governor, has performed magic. Where there is no money, he has worked in the realm of what he termed “intellectual money.” With this, he has taken governance to heights unprecedented, especially for a state which people had thought of only in the realm of the civil service and bureaucracy.

In Ikom, chocolate is being made from cocoa. Whoever would have thought this was possible for Cross River State? Whoever would have thought of industries that would utilize raw Materials from our own farms? Whoever would have thought that our cocoa, which had to pass through other states, states which claimed credit for its production, would be turned into edible, exportable products? That is the ingenuity of our governor at work.

Our rice which used to also go through our sister state and be credited as “Abakaliki rice” can now be processed, branded and packaged as Made in Cross River State. The implication of this is that not only would Cross Riverians eat what is produced from and on their own soil, but earn revenue from selling to others. Positive pride can certainly not come in a better form!

That is why Cross Riverians should appreciate their Governor, the erudite Prof Ben Ayade, for setting in motion machineries that would, in no distant future, see the state as a have that is beneficial to not only indigenes and residents, but the world at large.

Read more

Prudence in Financial Management favours Cross River State

It is heart-warming that prudent management of scarce resources by the Cross River State Government, under the managerial skills, sterling leadership qualities and qualitative direction of the Governor, Sen. Prof Ben Ayade, has been recognized and applauded by Budglt, a civic tech organization which works to make public data and budgets more comprehensible for the benefit of the public.

In its recent State of States report, which is regarded as the most comprehensive annual report of the fiscal health of States in Nigeria, Cross River took a giant leap forward to occupy the 8’h position in a 36 states survey. This move, from its 2020 ranking as the 14th most fiscally healthy state in the federation, is a healthy development worth acknowledging.

The State of States report is a self-assessment tool which gives an indication of the fiscal strategies of States in Nigeria and what they need to do to deploy necessary and available resources for investment, to the benefit of their people.

According to the report which was presented in the presence of representatives of state governments, the World Bank, International Monetary Fund (IMF), and the Nigeria Economic Summit Group (NESG), amongst other stakeholders, Cross River State paints a pleasantly interesting picture of the fiscal health of the Governor Ayade-led administration.

Long before now, the Governor had harped on the necessity of decoupling the state from the handouts that comefrom the Federation Account. He had set machineries in motion to boost internally generated revenue and enhance investments in high- yielding, novel industries and ventures that would shore up the revenue base of the State.

The state also recorded a 30% reduction in its year-on-year operating expenses, a large part of which is attributable to a reduction in overheads by over 70%. This in turn led to a corresponding growth in capital expenditure by over 71%, with an N 11,494 expenditure per capita, higher than the country’s average of N8,129. These laudable strides could only be achieved through prudent and judicious deployment of resources which are, in any case, scarce in the state.

Governor Ayade’s avowed determination to prioritize investments in capital expenditure, while at the same time significantly reducing operating expenditure spending, coupled with placing premium attention to investments in capital projects obviously did not go unnoticed.  Budgit’s ranking attests to this.

Long before now, the Governor had harped on the necessity of decoupling the state from the handouts that come from the Federation Account. He had set machineries in motion to boost internally generated revenue and enhance investments in high­ yielding, novel industries and ventures that would shore up the revenue base of the state. His take-off point has always been intellectual money, which is working well for the State on all fronts.

And even though Cross River State ranked l 7’h in terms of residual income left over for investments in capital projects after servicing deductions on inherited loans and operating expenses, it’s ranking as the 4th highest state on the ladder of capital investments is an indication of sound fiscal policies and creative funding.

For an administration that is placed 36th out of the 36 states of the federation in terms of ability to borrow, the Ayade-led government has however worked assiduously to reduce domestic and foreign debts, expending over N l20billion on debt servicing on inherited loans. This is quite commendable!

In the face of all these achievements, government is still not resting on its oars. Appreciable efforts are being made, via the ingenuity of the Digital Governor, to take the state out of its fiscal woods. Some of the measures being employed to achieve this include substantial investments in infrastructural projects, with a focus on agro-processing; deploying technology to checkmate the vexed issue of ghost workers which unnecessarily swell the payroll; and a conscious, continued and concise effort at beefing up the internally generated revenue of the state.

With time, and certainly in the lifetime of his administration, Cross Riverians will not only witness, but get to reach the light at the end of our collective journey as a people.

Read more

For Nigeria, hope is alive in the years ahead

In the 61-year-old history of Nigeria, a lot of water has passed under the bridge, to borrow a popular cliché. But no matter how tough the storms, we have been able to weather it as a people, “though tribe and tongue may differ,” as the words of our former National Anthem reminds us.

On the political field, we have transited severally, welcoming both military and civilian rules and rulers. We have applauded some administrations and been let down, yet some have almost met the desires of the average Nigerian. And we are where we are today, nurturing our democracy and believing that in the long run, all will be well.

Economically, we have reaped the benefits of our God-given endowment – crude oil- and utilized it for the development of our nation. Some may argue as to how well the proceeds from our oil revenue have been judiciously put to use, but there would be no use crying over spilt milk. Our resilience as a people is our main staying power. Nigerians come out of every tough situation smelling even sweeter than the rose flower. This is because we understand the never-say-die mantra and use it well to our advantage. The era of affluence puts a smile on our collective faces, yet the downturn in affluence never takes away from who we are.

Our countrymen, including children, are making us proud in yonder land, winning laurels and wowing the western world. In practically all fields of human endeavor, Nigerians shine like stars and fly the nation’s fly high.

To celebrate our 61″ anniversary, President Muhammadu Buhari acknowledged that though “the past 18 months have been some of the most difficult period in the history of Nigeria ,” he noted that “Our resolve for a peaceful, united and one Nigeria remains resolute and unwavering ,” urging Nigerians not to despair over current challenges as government is not resting its oars to address the national malaise.

Similarly, former President Goodluck Ebele Jonathan indicated that “We may have hiccups along the way and challenging times that might be stretching our resolve and determination to forge ahead, but we should not relent nor succumb to fear, discouraging trials and threats of today,” assuring that Nigeria has what it takes to overcome the threats and trials currently bedeviling the nation.

The Cross River Governor, Prof Ben Ayade, in a similar message to his people, admitted that there are challenging times, but “in spite of those dispiriting moments, however, there have been glittering times… conscious of the fact that no nation has ever berthed on a roller coaster, or fulfilled its destiny without sweat, we cannot therefore, as a country, afford to take our eyes off the ball.”

On the religious front, the Christian Association of Nigeria, the umbrella body of all Christian denominations in the country, in an encouraging goodwill message to the nation titled “Nigeria will experience showers of blessing,” president of the association, Rev Samson Ayokunle, said “The situation of the country appears bleak but knowing that God is not man and with Him all things are possible, this is the right time to believe that there shall be showers of blessings because some people are praying for this country.”

Add to this the assurance of the French President, Emmanuel Macron ; Indian President, Ram Nath Kovind; and the American President, Joe Eiden, that their administrations will support Nigeria in its efforts at combating the numerous challenges it is currently facing, one cannot but see light at the end of our dark tunnel.

We commend Nigerians desirous of and working hard to take the country to higher heights and condemn, in strong terms, agitators of division and secession under whatever guise. It is worth realizing that every country has challenges, even the developed ones. Abandoning a ship is never the way out of a difficult situation because even when it looks impossible, the tide may tum for good.

We beseech citizens to contribute their quota in their little corners, no matter how small, to ensuring that the nation comes out of the woods with sweet stories to tell. From every indication, there is hope for the entity called Nigeria in the years ahead

Read more

Cross River State industrial revolution: a proposed national case study

Nigeria’s greatest National Security challenge to a large extent is the unemployment crisis. Hundred of thousands of young people graduate from tertiary institutions yearly with no corresponding job placement opportunities and corresponding industrial growth. Globalization has made it sometimes cheaper to import goods and services rather than local production. This has greatly affected employment generation as existing local companies increasingly find it difficult to compete with imported goods coming in at lower prices, and manufacturers have no zeal to invest into new production companies because of risk of failure.

Globalization has brought competition to all levels, from production to distribution and even exchange. The after effect for most developing nations who failed to catch up with the symmetry of cheaper mass production, industrial growth, subsidized tariff regimes, and new global workplaces made possible with internet connectivity and technology is massive unemployment. This is where Nigeria finds herself. Now, how did we get here? To be factual, the rise and advent of Business Process Outsourcing (BPO) which is a method of subcontracting various business- related operations to third-party vendors/Countries was not favorable to Nigeria during its advent just like most African Countries.

Nigeria’s greatest National Security challenge to a large extent is the unemployment crisis. Hundred of thousands of young people graduate from tertiary institutions yearly with no corresponding job placement opportunities and corresponding industrial growth. Globalization has made it sometimes cheaper to import goods and services rather than local production. This has greatly affected employment generation as existing local companies increasingly find it difficult to compete with imported goods coming in at lower prices, and manufacturers have no zeal to invest into new production companies because of risk of failure.Globalization has brought competition to all levels, from production to distribution and even exchange. The after effect for most developing nations who failed to catch up with the symmetry of cheaper mass production, industrial growth, subsidized tariff regimes, and new global workplaces made possible with internet connectivity and technology is massive unemployment. This is where Nigeria finds herself. Now, how did we get here? To be factual, the rise and advent of Business Process Outsourcing (BPO) which is a method of subcontracting various business- related operations to third-party vendors/Countries was not favorable to Nigeria during its advent just like most African Countries.

When BPOs began, it applied chiefly to manufacturing entities, such as soft drink manufacturers that outsourced large segments of their supply chains. However, it is now applicable to the outsourcing of services like tech support, inbound and outbound sales, including trading and marketing. Today it is easy to operate an office in Washington DC and your entire support staff are drawn from Indonesia. Developed nations were able to adapt with new knowledge, new technologies and new skills acquisitions, but for most of Africa, especially Nigeria and our poor educational sector, it meant massive unemployment as our graduates could not fill the new void and the nature and requirements of the new workspace that was not location bound. At the advent, BPO depended on necessary technology/infrastructure that allows external companies to efficiently perform their roles, but Nigeria was less prepared and our major telecommunication company NITEL in the 90s was at its worst shape when these jobs moved to Singapore, Indonesia, Malaysia where most of Asia was better prepared.

So it is easy to trace the root cause of massive unemployment twenty years later in Nigeria and the low rise of an industrial revolution due to poor competition in prices of locally produced secondary products and cheap imported products. The new reasoning amongst most development experts today is that Nigeria must revert to local state sponsored industrialization and investment in Infrastructure and Trade if we must tackle our job creation crisis. While it may be challenging to connect into the new global workplace, we can take advantage of our local population and markets and drive a home-grown industrial revolution. I will use Ben Ayade’s Industrial Projects to drive home my argument. Bill Gates in his recent visit to Nigeria, had opined, that to anchor the economy over the long term, investments in infrastructure and competitiveness must go hand in hand with investment in people. People without roads, ports and factories can’t flourish. And roads, ports and factories without skilled workers to build and manage them can’t sustain an economy, Bill Gates Concludes. This I assume is the reasoning driving Cross River State Industrialization and Proposed Capital Projects. The outstanding question still remain, do we pursue the new industrial revolution by investing directly in Small and Medium Size Enterprises (SMEs) as the World Bank has done in the past decade or rather than SMEs, should State Governments invest directly in Industrial projects, through State run Corporations, source for new markets, build industrial production Capacity before transferring this state owned Industries to the Private Sector?


I would rather argue, given what I would refer to as the Nigerian factor, that for large scale industrialization, the type that can create jobs and reduce unemployment, that state governments should be direct partners if we must have a head way. State involvements in Production relations would not in any way hinder the growth of the private sector, rather, it will strengthen the private sectors delivery capacity through Public Private Partnerships. More question: Has SMEs financing failed to produce desired economic growth results in the past decades? No it hasn’t, but the type of financing often allocated, the type and class of jobs and the type of international competition out there puts too much financial burden on most SMEs, so much that majority of them barely struggle to survive, and as such, SMEs financing has not produced the type of job creation that could drastically affect or reduce unemployment especially among university graduates and skilled trained people.
SMEs over the years funded by world bank has produced artisans, Carpenters, welders, radio mechanics amongst others, professions that created jobs that could not absorb our graduate unemployed youths. This is the core of the problem to the rising graduate unemployment in Nigeria.

It should be noted that virtually all the SMEs programs funded by Nigeria’s CBN, World bank and other Institutions are too economical with financing. Nigeria does not have a credit system that is value or behavior based as found in most countries, our credit system is collateral based, and as such our SMEs are not given the type of facilities that can build medium sized industries, the type that can absorb our teaming graduate unemployed youths and still compete favorably in the international markets. History shows that our institutions are more interested in financing Small Scale Enterprises a way of reducing risk investments. More so, The Government does not have an efficient mechanism to ensure loans are applied to sectors originally designed for, the Banks do not trust the people and no efficient value-based credit mechanism to guarantee repayments or penalties, so to reduce risk, the disbursements are minimal and this has great impact on job creation and employment generation.


The Country is eager to build an industrial based economy, yet loans released to prospective SMEs can only start up small investments and trades, never enough to invest and build medium or large Industrial Projects capable of mass production with sufficient capacity to create jobs at a meaningful scale. These has been the pattern for over three decades. No nation develops this way. So State direct involvements in Large scale industrial projects remains one of the only meaningful options left, and should be encouraged as a pathway to sustainability and massive job creation. Let us now take a look at the Cross River State Industrial Initiative as a case study. Ben Ayades Industrial Model Since 2015, Ben Ayade’s government has initiated an Industrialization model which I think other Nigerian States should follow and Donor Partners should use as a test case for future investments and donor support. The strategy combines industrialization, Production management, value chain upgrades and employment generation. If properly planned and managed with the right human Capacity, technical component and the right market engagement, local and international, the strategy has the ability to turn around the fortune of the state and create sufficient graduate employment within the next decade. To achieve this goal, the Cross River State government initiated industrial projects in some local governments that produced raw materials that can be used to feed the new industries.

Read more

CROSS RIVER SHOW SIGNS OF FINANCIAL INDEPENDENCE

Dataphyte Analytic report has revealed that Cross River is among the five states that show immense signs of financial independence in 2018 despite receiving least monthly federal allocation.

Within the period under review, according to the report, Cross River showed great promise of financial independence based on the ratio of its internally generated revenue to the Federal Account Allocation Committee, FAAC, surpassing the 50 percent line vis avis states with huge allocation index.

Economic analysts have attributed Cross River’s feat to Governor Ben Ayade’s aggressive efforts at ensuring that the state’s economy is completely decoupled from the crude oil induced monthly federal allocation.

The need for this has led the governor to embark on an industrialization drive, establishing over 13 industries across the state during his first term. The other states that ranked at par with Cross River in the Dataphyte report as regard financial independence are Enugu, Rivers, Ogun, Osun and Kwara. The report also indicates that the 36 states shared a total of N25.03 trillion, and each earned an average of N695.24 billion between 2007 and 2018

 

Read more