Reflating the economy with ASUU’s naira rain


SIR: The tranche of academic earned allowances due to members of the Academic Staff Union of Universities (ASUU), some N23 billion naira, just dispersed to those who earned this money has all but gone back into the national economy.

I should know this because I had all but disbursed my share to those who need this capital badly. I am particularly interested at how little I would have impacted the local economy of Otukpo in Benue State when I sent a total sum of N59,000 to my two young nieces who lost their mother (my sister) four years ago; no sooner had they received the credit alert notice than they went shopping for Christmas, buying stuffs and all. Surely, the bulk of that money was spent within the week but that little spending bump had a miniscule positive effect on the local economy of Otukpo.

When I was at the Minna branch of the UBA to do that money transfer, I was not at all surprised to run into other lecturers at the bank also doing money transfers to destinations across the country; Basically, when the federal government honours its commitment and pays the subsequent tranches of academic earned allowances, Nigeria’s economy would grow ever so slightly and Nigerian lecturers would have fought poverty and kept this menace at bay to some extent.


Federal University of Technology, Minna, Niger State.

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