By Samuel Oyadongha,
Governor Timipre Sylva of Bayelsa State ,Tuesday, warned that salary increase as being agitated by workers might cause hyper inflation and not solve the problems confronting the nation economy.
Speaking at the launching of the Bayelsa Child Development Account held in Yenagoa Chief Sylva noted that whenever there was salary increase the market forces always reacts, thereby leading to hyper inflation.
“Nigeria is not a producing economy, and, until we change our mindset from consuming nation to a producing one, the nation’s economy would continue to suffer a setback,” he lamented.
He stressed the need for inculcating saving habit among the younger generation, adding that this necessitated the introduction of Child Development Account among the students at the Basic Junior Secondary Schools in the state.
According to him, “We have decided to introduce the mentality to save for the future of the children. There is need for the children to take their future seriously. As a government, we are ready to partner with you.
“Anyone that is ready, the government is ready to give him/her money. We are ready to expand the programme until we are able to capture every Bayelsa child.”
The governor lamented the high unemployment and poverty rate and called for active participation of the private sector as government alone cannot engage the youths.
“Can the government employ everyone? How do we create employment? Have we as Bayelsans done enough to attract investors with all the activities we engaged in?
“Our comment, daily is driving investors away from the state, likewise our inability to manage the little resources we get. Problem militating against our growth as a state is lack of management culture,” he said.
Earlier, the State Commissioner of Education, Mrs. Josephine Izonbodor lauded the present administration in the state for working assiduously to revamp the education sector especially the introduction of the Child Development Account.
Represented by the Permanent Secretary, Ministry of Education, Dr. Mrs. Victoria Tekena, the commissioner said the programme aside inculcating saving habit in the children would make them to compete with their counterparts globally.