The Minister/Deputy Chairman, National Planning Commission, Dr. Shamsuddeen Usman has explained that the Federal Government embarked on states’ Gross Domestic Product (GDP) computation project to spur growth and development in the country.
Usman disclosed this in a key-note address presented at the flag off ceremony of the states’ GDP computation in Awka, Anambra State for the South-East zone, organised by the National Planning Commission in collaboration with Anambra State government, Nigeria Governors Forum and the National Bureau of Statistics.
He also said that the inclusion of states’ GPD in the national data frame work would promote accountability, create awareness of the out come of efforts at the sub national levels, as well as, enhance its’ comprehensiveness and reliability as a measure of economic activity.
The minister further stated that it would give room for improved management of both the sub-national and national economies and generate healthy competition among the states, among others.
Usman, however, disclosed that the states Gross Domestic Product (GDP) as a key for measuring the level of economic activity has not been computed at the grassroots and sub-national levels where most of the economic activities actually take place.
He said the estimated cost of the GDP computation project in the country is N1,044 billion, where the federal government would contribute N313.3 million, the 36 states and FTC are contributing the sum of N522 million or N14.1 million each while the development partners are to contribute N208.9 million.
According to him, Anambra State has paid its share, while UNDP has made tremendous contribution to the project, just as he urged some states, which are yet to contribute their quota to pay up.
“All the stakeholders at the national and sub-national levels, as well as, development partners have come together to ensure that the process is built on a sustainable framework and successfully implemented,” he said.
He said that the National Steering Committee on the computation of the states’ GDP was inaugurated on May 5, 2009, adding that the overall objective of the project was to provide a measure of the seize of economic activities for each of the federating states.
He commended Governor Peter Obi’s leadership qualities as demonstrated by his commitment to sound economic management, accountability, and transformation of lives of the people, insisting that Anambra State was chosen as the pilot state in the South-East in recognition of the governors’ transparency.
In his speech, Governor Obi, who flagged off the project assured co-operation of the South-East geopolitical zone for the turn around of the zone.
He said the states GDP computation would encourage growth not only in Anambra, but in the country in general adding that it would also help to achieve accurate planning.