Impact of Industrial Conflict on Economic Development in Nigeria: (a Study of Nigerian Students and Trade Union in Ogun State )

One of the challenges of Economic development in Nigeria is industrial dispute. This has both costs and benefits to the government, labour and management otherwise known as the three social partners. The causes of this trade dispute have generally been established as the inability of the concerned parties to settle their differences which consequently impact negatively on goal achievement. Hence, the study investigated the impact of industrial conflict on Economic development in Nigeria using students from selected tertiary institutions and trade union in Ogun state. Both primary and secondary data were elicited. Secondary data from Journals, text, internets etc. Questionnaires were administered to 100 each of students and trade unionists drawn from a total population of 350 as was generated from yamane formula. 171 respondents carefully completed and returned their questionnaires on which our analysis was based after subjection to regression analysis of the statistical package for social sciences (SPSS).Results indicated strong correction between industrial conflict and economic development at 5% level of significance carrying out a multiple regression analysis.R2= 0.209, β= 0.357, Pv= 0.094 , hence P> 0.05 level of significance (H1 is accepted). Based on the above observations, we recommend channelling labour-relations mechanism to facilitate continuous interface so that differences are narrowed creating room for peace and productive time instead of argument and dispute. The government and labour unions should make provisions for negotiations and conflict resolution to avoid conflicts and strike actions. Each party is to respect and abide by the dictate of any accord reached otherwise the process of arbitration must be allowed to take due course according to the government Laws and Policies.