Bala Mohammed, governor of Bauchi State, has told the central bank governor, Olayemi Cardoso, to review his monetary policies as they have so far not yielded the desired results.
Mohammed, speaking at the World Bank Nigeria development update themed ‘Staying the course: Progress amid pressing challenges’ held in Abuja said the CBN’s policies are hammering consumer spendings.
“With all humility, please review your policies, they’re not working. I see the orthodox policies as being too academic,” Mohammed said.
“Purchasing power of the people is dwindling, you should review your policies,” the governor said.
While addressing the issue of payment of minimum wage, Mohammed said Bauchi state still pays the former wage of N33,000 but has set up a committee to look into how the state can begin the new wage review.
He stated that though revenue to the states has increased, there are lots of deficits in terms of power and infrastructure.
“There are lots of things taking the money. The money we get from the federal government is not enough,” the governor said.
The governor stressed that the state is improving in its internally generated revenue and remains focused to catering to the welfare of its people.
Mohammed urged potential investors to take the advantage of the arable lands in Bauchi and invest in agriculture in order to create jobs and ensure abundance of food.
He emphasized that Bauchi remains one of the most secured state in the region and is ready to partner with individuals ready to invest in the state.
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