By Princess Funsho Sumanu
Kogi State Commissioner for Finance, Budget, and Economic Planning, Hon. Asiwaju Idris, has emphasized the significance of Gross Domestic Product (GDP) in guiding states towards economic growth, improved living standards, and data-driven decision-making.
Speaking at the inauguration of a training session on computing Kogi State’s GDP, the Commissioner expressed enthusiasm for this transformative economic endeavor.
He highlighted the state government’s commitment to bridging the gap between 2018 and the present and emphasized the importance of accurate data in enabling states to formulate budgets, forecast revenue, and make informed economic decisions.
Hon. Idris, however, stated that the training exercise is aimed at computing Kogi State’s GDP, providing valuable insights to guide informed decision-making and facilitate the state’s progress.
He said with a robust GDP, Kogi State can benchmark its performance against other states, gauge its international ratings, and make data-driven decisions to drive economic growth and development.
He noted that the administration’s belief in data-driven planning underscored the necessity of data for the state’s prosperity.
In conclusion, the Commissioner expressed gratitude to all stakeholders involved and urged their continued dedication to ensuring the success of the training, survey, and computation of GDP for the benefit of Kogi State.
The State Statistician General, Mrs. Irewole Ireti, also stressed the significance of GDP as a measure of the state’s economic performance, expressing gratitude to the Governor and Commissioner for their continuous support of the Bureau
She stressed on the need for precise data collection to ensure effective planning and policy-making.
The Statistician General also highlighted that the forthcoming survey will involve two key methodologies: primary data survey and administrative data. These initiatives will provide valuable insights to guide informed decision-making and facilitate the state’s progress.
In her goodwill message, Mrs. Teide Narebor from the National Bureau of Statistics congratulated the State government on the decision to compile Kogi State’s GDP.
She expressed that at the conclusion of the exercise, the state will have a clearer understanding of the contributions of each sector to the GDP, thus enabling the state to compare itself to others in terms of growth and development.
