Mr. Samuel. O. Ajayi has said that increase in workers’ take home pay will not solve the economic well being of the masses, instead it will worsen it.
In a post in his Facebook timeline, Ajayi who is a journalist said, “Increasing workers’ salaries can NEVER solve a nation’s economic problems.” he said.
“Unfortunately, we do not know this.
“If you notice, statistically, people are making money but inflation makes it look they are not!
“You were making 300k four years ago, but with 150k out if it, you could meet your obligations.
“But today, you are making 500k but you need 480k to meet your needs.
“The printing of over N20trn under Buhari (via CBN’s Way and Means tool) put us where we are today.
“We were spending money not productively earned; just pumping cash into the system.
“Tinubu too has been printing his own.
“In consumptive economy like ours, if you keep pumping more liquidity into the system, the result is more inflation.
“Solution: the productive sector has to be revitalised.
“Any country that relies on non-productively earned public funds to function will always have biting inflation to deal with.”
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