Impact of Covid-19 Pandemic on Nigerian Economy: Philosophical Evaluation

Abstract

This article focuses on an evaluation of the impact of covid-19 pandemic on Nigerian economy. The year 2019 witnessed a great pandemic known as covid-19 pandemic. It has claimed the lives of many people in the world, and also has adverse effects on many sectors of life in the world. It affected different dimensions of life in Nigeria such as education, health, economy, religion etc. However, this article limits its scope to the impact on Nigerian economy. The basic questions are: What exactly is Covid-19? What was Nigeria’s initial encounter with Covid-19 pandemic? What measures were taken by the Federal Government of Nigeria to prevent the spread of Covid-19 pandemic? What are the effects of Covid-19 pandemic on Nigerian economy? Can Nigerian economy be revitalized? This article therefore, employing philosophical analytic method, examines the effect of covid-19 on Nigerian economy. It also examines how Nigeria as a country has tried in addressing the adverse effects of covid-19 on her economic system. The researchers discovered that, since the outbreak of covid- 19 pandemic, the economic standard of Nigeria has deteriorated drastically and our leaders have not taken appropriate measures to revitalize the economy. The article argued consistently that there is hope for the revitalization of Nigerian economy if our leaders take strategic measures which are geared towards reconstructing the economic system.