The Federal Government has flagged off the computation of States Gross Domestic Product (GDP), which would gulp a total of N1.044billion.
The estimated financial requirement for the States' GDP Computation Project would be borne by the federal and state governments as well as the development partners in the ratio of 30:50:20 respectively.
A breakdown of this showed that the 36 States and FCT are expected to contribute a total of N522million, the federal government would contribute a total of N313.3million while the development partners will contribute N208.9million.
The Minister of National Planning Commission (NPC), Dr. Shamsudeen Usman, while flagging off the project in Minna, Niger State, said the overall objective of the project was to provide a measure of the size of economic activities for each of the federating States of Nigeria.
He identified other reasons for the project to include, to determine the variations in economic growth and development across the country, ascertain the level of sectoral linkages in the States for planning purposes, increase the States' involvement in the generation of statistics, in accordance with international best practices.