Workers’ Day: Economist advises government on welfare

An economist, Prof. Ben Aigbokhan has advised the three tiers of government to improve provision of social goods such as education, health services and infrastructure for workers in the country.

Aigbokhan, Vice Chancellor at Samuel Adegboyega University, Edo gave the advice in an interview with newsmen in Abuja on Wednesday.

Aigbokhan, Professor of Economics spoke on the occasion of Workers’ Day usually celebrated every May 1 globally.

He said improvement in provision of social goods would reduce workers out of pocket expenses and make the minimum wage have a longer reach in terms of consumer basket.

According to him, the implementation of minimum wage will inevitably lead to inflation.

”A new National Minimum Wage Bill of N30,000 was passed by the National Assembly on January 29 and March 19 and was signed into law by President Muhammadu Buhari on April 18.

“It will lead to inflation as employers attempt to pass on to prices the increase in cost of production, especially as fuel pump price has gone to N150 per litre.

“It will cause some unemployment as employers resist new employment.

“The purchasing power of the minimum wage is in real terms lower than the earlier minimum wage in view of inflation rate,’’ he said.

NAN

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