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Ekiti State Government has commenced procedure for the computation of the Gross Domestic Product (SGDP) for year 2018 to 2022.

According to a statement signed by the Permanent Secretary/Statistician General of the State Bureau of Statistics, Mr. Mathew Kolawole, the programme would be officially flagged off by Governor Biodun Oyebanji at the Lady Jibowu Hall in Ado Ekiti on Wednesday 3rd April, 2024 at 9am.

The statement stressed that “GDP is important because it gives information about the size of the economy and how an economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well”.

It iterated the commitment of the present administration to the provision of quality data that are accurate, complete, valid, consistent, unique, timely and fit for purpose that investors can leverage upon to take critical decisions, adding that GDP is an important measurement for economists and investors because it tracks changes in the size of the entire economy.

The Statement added that GDP also serves as a comprehensive measure of economic health and helps in proper planning as it similarly provides insights into the factors driving economic growth or holding it back.

Posted in Ekiti State News Bulletin
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