COVID-19 IMPACT ON BUSINESSES IN NIGERIA

Coronavirus or Covid-19 pandemic in the world will cause a paradigm shift in the way businesses are conducted throughout the world. This is because with the number of death recorded in different countries that have contracted the virus, different governments have applied the total lockdown rule as a means to curtail the spread. In doing this, businesses are also shutdown.

In Nigeria, two states (Lagos and Ogun) and the federal capital territory(FCT) have been lockdown for about four weeks and this have impacted negatively to so many businesses. Here, many businesses are SME's and because of the lockdown, may not survive,  they depend on daily operation to sustain their existence. Thus, if the lockdown continue for a long time, it might lead to total collapse of such business.

The Coronavirus have spread to more than 25 states in Nigeria and the possibility  of reaching all the states cannot be ruled out. If total lockdown is implemented in all the states to control the spread, then we are in for  a big challenge.

The lockdown is good to curb the spread of the virus but the government does not have enough capacity to provide palliative that will make people obey the lockdown and stay at home.

Businesses have adopted online approach to operate minimally while the lockdown and Covid-19 pandemic last. The big question is how many companies in Nigeria have the capacity to transact their businesses online? With the level of poverty , the speed of our internet and coverage in Nigeria, it is difficult for companies to sustain this trend?

Therefore, it is very important that the government should balance the approach adopted  for the Covid-19 pandemic in such a way that while curtailing the spread of the virus, our business and our economy should be saved.

#STAY SAFE
#SAVE OUR BUSINESS
#SAVE OUR ECONOMY

EMMY DANIEL.