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How ASUU Strike Is Contributing To The Economic Decline In Nigeria.

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ASUU Strike Is Contributing To The Economic Decline In Nigeria. It is no longer news that the Academic Staff Union Of Universities (ASUU), have been on indefinite strike since March 2020, a situation which the FG is still struggling to resolve.

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While the students are the hardest hit set of individuals in this fight of two elephants, an understandably frustrating situation for majority of them whom their career and future had been put on hold, there is also the need to come to terms that the strike has also affected the economy in a significant way. This is considering quite a number of situations that will be outlined below.

Businesses Inside Campus Has been Liquidated.

If you’ve ever been in a university campus, then you’ll quite agree that there are businesses thriving under the sole patronage of students. Now imagine the fate of those businesses when students are not there. Granted, there are semester holidays to contend with when students will not be on campus, but the current ASUU strike has surpassed any semester holiday.

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As a matter of fact, the strike has successfully lasted a full academic session! This has inevitably put many out of business on campus and if you add that up across the federal universities actively participating in the industrial action across the nation, most of whom have at least two campuses, it amounts to a significant dent in the economy.

Withheld Payments Of Striking Lecturers.

Lecturers who are yet to enroll on the Integrated Payroll and Personnel Information System (IPPIS) mapped out by the Federal Government have not received any salary dating back to June. Of course this is one of the reason for the strike in the first place, but one wonders about a situation where over 80% of lecturers across all federal universities are without any payment for six to nine months, surely it’ll have an impact in the economic situation of the country, considering the fact that some lecturers are sole providers in their respective families.

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Lack Of The Regular Allowance By Parents To Students

As much as this might seem insignificant, the lack of allowance that students used to receive from parents when school were in session is contributing to less circulation of money. Thanks to the ASUU strike, parents and guidance no longer see the need to give students any form of cash and while it will prompt students to look for ways for self sustainability which may be seen as contributing to the workforce and productivity of the economy, the truth still remains that the average amount of money that should be in circulation around the nation has been cut down due to students staying at home instead of learning in school.

Economic Loss During The #EndSars Protest

The lives lost during the #EndSars protest is a big tragedy to Nigeria, some of whom were students. One wonders if the intensity of the protest would be that high if ASUU weren’t on strike and students were in their various fields of learning. And as a result of such intense protest, properties were destroyed, economic growth was brought to a standstill deepening the already gaping hole in the nation’s economy. It wasn’t surprising that barely one month after the protest, Nigeria slipped into recession.

All these facts add up in one way or the other to contribute the dent in the already receding economy. It is left for the Federal Government and ASUU to reach a resolution as soon as possible to avoid further decline in the fragile economy. All parties involved should compromise and let down their ego for common sense to prevail.

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