The Bayelsa Government has launched a special scheme tagged, Child Account Development Scheme aimed at introducing students to money for their future endeavours.

Speaking during the occasion, the State Governor, Chief Timipre Sylva said that salary increase as being agitated for by the workers might cause hyper inflation, adding that it could not solve the problems confronting the economy of the nation.

He lamented the unemployment and poverty rates in Bayelsa state, attributing the situation to abnormality in behaviour experienced among the teeming youths.

According to Chief Sylva, launching of the Bayelsa Child Development Account is designed to address the issue by securing the future for Bayelsa youths.

Nigeria, according to him, was not a producing economy, and, until we change our mindset from consuming nation to a producing one, the nation’s economy would continue to suffer a setback. He stressed the need to inculcate saving habit among the younger generation, thus necessitating the introduction of Child Development Account among the students at the Basic Junior Secondary schools in the state.

In his own words, “ we have decided to introduce the mentality to save for the future of the children. There is need for the children to take their future seriously. As a government, we are ready to partner with you”. “Anyone that is ready, the government is ready to give him/her money. We are ready to expand the programme until we are able to capture every Bayelsa child”.

On the level of unemployment rate in the state, the governor called for active participation of the private sector, blaming the problem militating against Bayelsa growth to lack of management culture.

Earlier, the State Commissioner for Education, Mrs Josephine Izonbodor lauded the efforts of the present administration in the state at revamping the education sector most especially the introduction of the Child Development Account.

Speaking through the Permanent Secretary, Ministry of Education, Dr. Victoria Tekene, the Commissioner said the programme aside inculcating saving habit in the children would make them to compete with their counterparts globally.

Also speaking the co-ordinator of the programme Mrs Tonbofa Ashimini said the programme first of its kind in the country, has a success story to tell in countries such Uganda and Mexico and pleaded for support of parents and teachers for it to succeed in Bayelsa State.