ECONOMIC IMPACTS OF CORONAVIRUS (COVID-19) PANDEMIC IN NIGERIA

Emmanuel Ikechukwu Amoke (PhD)

Abstract


Recently, countries of the world witnessed an unprecedented outbreak of a virus that has automatically changed the ways, productive and consumption activities were going and successfully crippled the economic activities of the whole world. The corona virus, otherwise referred to as COVID-19 has affected communities, businesses and organizations globally, inadvertently affecting the financial markets and the global economy. The pandemic caused the largest global recession in history with more than a third of the global population at the time being, placed on lockdown. Having originated in Wuhan, a city in the Hubei province of China, the corona virus spread like wildfire, through human-to-human contact, all over the world. The objectives of this paper are to find out the impacts of this corona virus on the economic activities in Nigeria. The primary and secondary sources of data generation were employed and data were analysed using the analytical discourse approach. The findings reveal that the corona virus has a very negative impact on Nigeria economy as every activity was crippled during the lockdown period and unleashed untold hardship on Nigerian citizens especially the vulnerable ones. We recommend that Nigerian economy should be diversified to avoid sole dependence on oil economy. Secondly, both the government and wealthy individuals should contribute significantly towards funding research enterprise, building refineries and encouraging local industries for sustainable economic growth and development.

Keywords


COVID-19 Pandemic, Economy, Impacts, China Connections, Nigeria.

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References


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Copyright (c) 2021 Emmanuel Ikechukwu Amoke (PhD)

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 ISSN (Print):   2695-2319

ISSN (Online): 2695-2327

 

 

   

 

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.