GDP Computation To Cost N1.04bn

The National Planning Commission, has said that about N1.04 billion would be used to  compute the Gross Domestic Products (GDP) in the states.

This was contained in a statement issued by the Head, Information Unit of the commission, Mr Salisu Haiba, a copy of which was made available to the newsmen in Abuja.

It said that the money would be provided by the Federal and State Governments with the support of donor agencies.

The statement quoted Dr, Shamsuddeen Usman, the Minister of National Planning Commission (NPC), to have announced the move at the flag-off of the state GDP computation project in Nigeria, in Minna, Niger.

“An estimated financial requirement for the state GDP computation project was put to the tune of N1.04 billion.

“This will be jointly borne by the Federal and State governments as well as the development partners in the ratio of 30:50:20,’’ Usman said.

The minister said that the 36 States and FCT were expected to contribute N14.1 million each, totaling N522 million.

“Equally, the Federal Government is to contribute a total sum of N313.3 million, while the development partners would contribute N208.9 million.

“A dedicated account has been opened for the project to ensure transparency and accountability of the process.

“This is in line with the existing synergy among the major stakeholders in the project,’’ the minister was quoted  to have said.

Usman assured that the project would facilitate the effective monitoring and evaluation of development plans and annual budgets.

According to him, it will also enhance the welfare of citizens and promote transparency and accountability at all levels of government.