Cross River State Economy Worth N1.28tn in 2011-Yuguda

In Breaking News, Business & Economy, National News, Reports

by crossriverwatch admin

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The National Planning Commission has put Cross River State’s Gross Domestic Product, GDP for 2011 at N1.28 trillion.

Revealing this during a presentation on the outcome of the first ever survey of GDP of states in the country, the Supervising Minister of National Planning, Amb. Bashir Yuguda said The GDP of the state in 2010 was N1.32tn.

The exercise carried out in six pilot states drawn from the six geopolitical zones of the country put the size of the Anambra State economy at N1.01tn in 2011.

Gombe State GDP for the same years is put at N0.94tn. Other states are Niger-N1.08tn, Kano-N2.26tn, Lagos-N4.45tn and Rivers-N5.52tn.

The survey, according to the Minister, was conducted by the National Planning Commission in collaboration with National Bureau of Statistics.

Giving a further breakdown of Cross River State GDP, the Minister said the survey shows that the industrial sector contributed 66 percent, agriculture 23 percent while services made up the remaining 11 percent.

Reacting to the report, Governor Liyel Imoke of Cross River State promised to study the data in greater detail with a view to using it to stimulate further growth in the economy.

Imoke disclosed that the state has invested significantly in agriculture to boost production and create value chain thereby creating wealth.

Minister of Tourism and National Orientation, High Chief Edem Duke decried the fact that tourism was yet to be taken seriously in the country.

He said several countries have used tourism to boost their GDP. Duke noted that efforts are being made to reverse the trend.

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