Tuesday, May 4, 2010

Salary Increse... Inflation hyper-Increase!

Learned that the Federal Govt of Nigeria recently increased salaries of its civil (or is it public) servants. Good as the news may sound, it is bound to come with a lot of negative effects. From past events, whenever there is an increase in salaries of civil servants, there is an accompanied rise in the prices of goods and commodities. This time around, the salaries have been increased by more than 100%, from minimum wage of 7,500 naira to 18,000 naira!!
Considering the fact that only 22% of Nigeria's work force is in the civil service sector, and all Nigerians buy from the same market, I'm of the opinion that necessary steps should be taken to curb inflation in the country whenever such increase in salaries are made. And this can be done by government paying more attention to the agric/agro-allied based sectors, the manufacturing sector and most efficiently, the power sector. Because when there is enough food for all, then the cnsumer truely becomes king.
Kudos to the Jonathan(?) led government (if state governments will be able to do the same- which I doubt) for measures it is taking to alleviate the sufferings of its workers, but it should not be a trojan horse- where the gift will cause more suffering for the entire Nigerian public

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