PSYCHOECONOMIC IMPACT OF REMOVAL OF FUEL SUBSIDY ON ACADEMIC STAFF OF FEDERALUNIVERSITIES IN NORTHCENTRAL NIGERIA

This study examined psycho-economic impact of removal of fuel subsidy on academic staff of Federal Universities in Northcentral Nigeria. The study was guided by two objectives and two research questions. Two hypotheses were tested at 0.05 levels of significance. Descriptive survey design was adopted for the study. The population of the study comprised of 6804 academic staff of federal universities in North-Central Nigeria, and 357 were used as sample for the study. Impact of Removal of Fuel Subsidy on the Psycho-Economic Well-Being of Academic Staff Questionnaire” (IRFSP-EW-BASQ) was used to collect data for study. The data collected were analyzed through the use of simple percentages, frequency counts, mean and t-test statistics. The study revealed among others that there was a decrease in performance of academic staff of federal universities in North-Central Nigeria due to the psychological effects of the removal of fuel subsidy. Also, the findings revealed that there was significant psychological impact of removal of fuel subsidy on academic staff among federal universities in North-Central Nigeria. The study further revealed that the removal of fuel subsidy has created financial challenges that affect the overall quality of academic staff of federal universities in North-Central Nigeria. The study, therefore recommended among others that the management of federal universities in North-Central should offer mental health services like counselling and wellness programs so that staff can get help dealing with stress and anxiety caused by rising costs of living and job pressure; and staff salaries need to be reviewed regularly and adjusted to keep up with financial demand of present economic reality academic staff of federal universities in North-Central.