Governor of Bayelsa State, Senator Douye Diri, has explained why the Federal government must stabilise the naira rate before the implementation of the newly approved N70,000 minimum wage for workers nationwide.
According to him, improving the value of Nigeria’s currency is better, adding however that whatever gains made by raising the minimum wage, without stabilised nair value will be wiped away by inflation.
Diri stated this while fielding questions from journalists on ranging issues in Yenagoa, Bayelsa state.
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He opined that the value of the naira would have been stabilised before setting the minimum wage of N70,000 so that it would not be affected by the current high inflation.
He said, “It is better to improve the value of our currency because whatever gains made by raising the minimum wage will be wiped away by inflation.”
On the ongoing nationwide hunger protests, he advocated dialogue as the best option to address issues rather than resorting to protest or violence.
While acknowledging that protest was the constitutional right of every citizen, he, however, applauded the people of the state for maintaining peace, law and order, saying no meaningful development can take place in an atmosphere of rancour and violence.