FG, states, LGs GDP expenditure up 42.81% in 2015 – NBS

The National Bureau of Statistics (NBS) yesterday puts the final expenditure on Gross Domestic Product (GDP) of the three tiers of government at 42.81 per cent in the first quarter of the year.

This is contained in a statement issued in Abuja by the Statistician-General of the Federation, Dr Yemi Kale.

It said that the figure was higher than the -7.53 per cent and 16.56 per cent recorded in the first and fourth quarters of 2014 respectively.

According to the NBS, during the first quarter of the year, the general government final expenditure grew by 42.81 per cent year-on-year in real terms, higher than the -7.53 per cent in the first quarter of 2014.

It noted that the -7.53 per cent was also lower than 16.56 per cent recorded in the fourth quarter of 2014.

It stated that non-residential buildings and purchases in machinery and equipment year-on-year growth was put at 9.72 per cent in real terms.

The NBS said that the figure was down from 20.08 per cent and 12.45 per cent recorded in the first and fourth quarters of 2014 respectively.

It stated that Compensation of Employees (COE) slowed during the first quarter of 2015, decreasing by 2.49 per cent year-on-year (nominally) and in real terms, declining by 9.99 per cent year-on-year.

-Vanguard, June 2, 2015

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