THE SOCIOECONOMIC IMPACT OF ACADEMIC STAFF UNION OF UNIVERSITIES (ASUU) INDUSTRIAL ACTION (STRIKE) ON THE LOCAL ECONOMIC ENVIRONMENT

Dr. Aigbomian, S.E

ABSTRACT

Universities play a crucial part in the economic development process. Universities contribute to community prosperity by promoting regional growth, job creation, investment, and community well-being. Students have a great deal of purchasing power. Some schools, for example, enrol up to about 50,000 regular, part-time, and graduate students as the case of University of Benin. This seemingly economic impact on communities hosting these institutions is being threatened by the incessant strike actions of the Academic Staff Union of Universities (ASUU). This research focused on the direct impact of this industrial action on businesses domiciled within campuses. The local businesses in the tertiary institutions and its surroundings were identified and categorised into 8 categories, including: Stationery, Business Center, Snacks, Driver, Clothing, Food Canteen, Phones/Accessories, and Others Specify. The findings indicate that the majority of these businesses are centred around office supply stores and other businesses of a similar nature. Analysing how the strike has affected businesses by reveals that the ASUU strike has had a detrimental impact on respondents’ daily income. According to the tables provided for daily incomes of between 0-5,000 naira and between 5,001-10,000 naira, there is a daily increase of those who normally earn the previous increase by more than 57 percent, indicating that there was a decrease in business activities, and for the latter, by more than 51 percent during strike. The same pattern can be seen in how businesses cut costs by factoring in other daily income classifications.

Keywords: Strike; Industrial action, ASUU, Local economic Environment, Universities