Effects of Strike Cost on Economic Development in Nigeria

Abstract

Strike, the most overt expression of industrial conflict is a common phenomenon in Nigeria. No doubt, this action affects the cost of production and of course productivity as in most cases strike cost (wages and salaries as well as other unavoidable payments) are paid during the strike period. This paper theoretically examines strike cost and economic development in Nigeria. Taking strike cost as a factor of production the paper develops a model that can be used as a framework for analyzing the effect of strike cost on economic development. At the end, the paper is of the opinion that though industrial conf1ict is inevitable, strike can be avoided with good industrial relations.