COVID-19 PANDEMIC AND ECONOMIC DEVELOPMENT IN NIGERIA (2019 – 2023)
Baba Kura Bukar and Haruna Muhammad Haruna
Volume 5 Issue 2
Abstract
Nigeria like many nations across the globe suffers more of the impact of Covid-19 pandemic for economic development. This amount to serious economic down turn in the country. It is the aim of this study to explore the impact of covid-19 pandemic on economic development in Nigeria from 2019 – 2023. However, economic development in Nigeria has continued to be affected by convid-19 when many countries across the globe are rapidly overcoming this ugly trend. More so, after its first confirmed case, Nigeria's federal and state governments implemented the lockdowns strategy across most cities and states. This research intended to explore the impact of COVID-19 pandemic on economic development in Nigeria. Furthermore, to ascertain the extent of covid-19 impediments on economic development in Nigeria. Modernization theory is used to guide the research assumption. The study is based on purposive sampling techniques to select the participants. The study found that Corona Virus is a new disease that affect every sector in Nigeria especially the aspects of economic activities. It has affected business activities of manufacturing companies which result to low productivity and brought about increase in prices of goods and services Nigeria. Also, the result further shows that Nigerian government was not adequately equipped to overcome the impact of covid-19 pandemic on economic development as the virus resulted in shrinking of its economy. Therefore, based on these findings the study recommends that the Nigeria government should formulate viable economic policies that could stand against the effect of Covid-19 on its economy. Moreover, the adverse effect of this pandemic can adequately be supported by NGO’s through economic diversification to ease the burden on government. The National Centre for Disease Control (NCDC) must be more proactive not only in curtailing the spread of the disease but to politically partners Nigerian economic machineries to measure immediately the covid-19 adverse effect on the economy for smooth economic development in the country. Key Words: Covid-19, Economic, Development, Pandemic, Nigeria
Download Paper