Negative effects of Coronavirus Lockdown In Nigeria

Economics Effects Of Coronavirus Lockdown in Nigeria

The extension of the lockdown is expected to add to the hardship of millions of Nigerians living hand-to-mouth, often on less than one dollar a day here are Negative effects of Coronavirus Lockdown you need to know.

Buhari said on Monday he was “fully aware of the great difficulties experienced especially by those who earn a daily wage”.

“But despite these realities, we must not change the restrictions,” he added.

The government has pledged a series of support measures to ease the financial pain for the most vulnerable, but there have been widespread complaints that not enough is being done for those facing hunger.

Experts say the country of 200 million is highly vulnerable to the spread of the disease given its weak healthcare system and high population density.

The novel coronavirus disease (COVID 19) has affected every imaginable facet of human lives and has cut across different countries.

It has taken countless human lives, crashed stock markets, destabilized economic systems, amongst other catastrophic effects.

The pandemic has laid siege on key sectors of many economies. In fact, according to the IMF, the global economy faces a risk of recession.

Negative effects of Coronavirus Lockdown in Nigeria you need to know

Bellow are Key Economic sectors effected by this coronavirus

Aviation Sector

The air transport sector has been one of the most affected sectors during this period of the coronavirus outbreak. The entire transport industry was affected. However, airplanes are the most widely used international means of transportation that has been hit the most. This is because so many countries, as well as states, have shut down their border meaning that there is no entry or exit.

Tourism Sector

The tourism sector is another sector that has been greatly affected by the outbreak of coronavirus. This is because most countries no longer allow entry into or exit from them. Countries like France, Spain, The United States, and China, with a large Tourism sector, have been affected as well. Other countries with a high dependence on the tourism sector have been greatly affected.

Health Care Industry

The health care industry which includes hospitals and other organizations that are involved in the production of health care products have experienced a surge in the demand for their products. This has led to an increase in the price of these pieces of equipment, an effect that has been generally favorable to the industry. These medical supplies include; medical face masks, ventilators, protective clothing, and other equipment.

Other Industries Affected

Some other sectors like the hotels and accommodation agencies have been affected adversely by the pandemic. Hotels are experiencing a dip in demand as more people are staying at home.

Restaurants and other fast foods are also struggling because people are eating at home.

So far, these are some of the sectors that have been affected as a result of the outbreak of the COVID 19 pandemic.

As a parting message, I like to remind us that the COVID 19 will be a thing of the past if we all play our role; let’s maintain social distancing, stay indoors, wash our hands regularly or use hand sanitizers, and make use of face masks when we do go outside.

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