Bibliographic details and abstracts are available to all. Downloads of full-text dissertations are restricted to University of Portsmouth members who must login. MPhils may be accessed by all.

Abstract

This project qualitatively interrogates the effect of the COVID-19 pandemic on the Nigerian economy. Specifically, the project assesses Nigeria’s preparedness and response measures to the pandemic outbreak, analyses its economic effects and reviews the nation’s economic policy responses to the pandemic. The study relied mainly on published scientific evidence [scholarly works and reports (notable national and international)]. Findings revealed that slow/delayed response to border closure, allowing travelers to self-quarantine, poor healthcare infrastructures, poor contact tracing, weak synergy among pandemic regulatory bodies including porous borders hindered Nigeria’s pandemic preparedness and response. Economically, the pandemic ballooned Nigeria’s debt profile, shrunk its foreign reserves, increased government expenditure amid dwindling oil revenues, exacerbated the nation’s poverty level, expanded its unemployment rate and negatively affected virtually all socioeconomic indices. Regardless, the government through its agencies (including support from private sectors and international partners) took some pandemic-induced measures. Notably, it reviewed (cut-down) its budget size, expanded its borrowings and provided some palliative measures (cash and non-cash) to citizens and businesses. However, Nigeria’s crumbling health system, mono-economy nature, coupled with already threatening socioeconomic indicators, virtually enveloped government’s effort and made the pandemic effect more devasting on the Nigerian economy. Thus, this study concludes that the COVID-19 pandemic adversely affected the economy of Nigeria. Consequently, it was recommended that there is need for Nigeria to have a world-class health sector, improve on its basic amenities, develop (diversified) the economy and make the business environment much more conducive as well as roll-out an all-encompassing stimulus package for citizens and businesses, and above all, be more proactive in its preparedness for future pandemics.

Course: International Relations and Politics - BA (Hons) - C0694

Date Deposited: 2022-02-18

URI/permalink: https://library.port.ac.uk/dissert/dis13826.html