Economist urges review of workers’ salary to boost productivity
An Economist, Prof. Ben Aigbokhan, has called on the Federal Government to review workers’ salary to boost productivity in the country.
Aigbokhan, President of Nigeria Economic Society, made the call in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.
According to him, upward review of the salary will help to reduce restiveness which is capable of disrupting domestic production.
He also reasoned that upward review of salary might further fuel inflation as employers would attempt to recoup their profit by increasing the cost of goods and services.
``If the cost of living in major cities is taken into account in fixing salaries, disparity may be defensible, but if productivity differential is taken into accounts for the disparity, then government should discourage it.
“This breeds discontent and corrupt practices in workers who consider themselves disadvantaged in the salary structure,’’ he said.
On inflation rate, the lecturer said that the government should increase supply of goods to check rising prices in the face of demand.”