Assessment of the HIV/AIDS Impact on the Nigerian Economy Performance: An Empirical Analysis

Abstract

The HIV-AIDS pandemic is a problem affecting several African and Latin American countries including Nigeria. It is a scourge that has adversely affected the productivity levels of families, communities and eventually economies. This study is therefore designed to evaluate the Impact of HIV/AIDS on the Performance of the Nigerian Economy. Using annual time series data sourced from the World Bank Database, Central Bank of Nigeria statistical bulletin and econometric tools of analysis, findings indicated that all the variables defined in the model were stationary and there exists a unique long run relationship between the dependent and independent variables in the model. Furthermore, the research concluded that HIV/AIDS had a significant negative impact on productivity and by implication economic growth. Similarly, government spending on health had a significant positive impact on economic growth in Nigeria during the period studied. The study thus recommends that the government should urgently elicit the cooperation of all relevant stakeholders and set up policies for the prevention of the estimated output loss that could result if the disease prevalence is not controlled. Finally, infected individuals should have access to anti-retroviral drugs at the primary health centres to reduce time and resources in care-giving.