COVID 19: 20% of Nigerians Lose Job to Pandemic

• The government’s statistics office has disclosed that around 20% of Nigerians have lost their jobs due to COVID 19

• The information was gotten from the survey of 3,000 businesses in Nigeria by the National Bureau of Statistics and the United Nations Development Program

• The world bank has also estimated that over 11 million Nigerians will be pushed into poverty as a result of the pandemic crisis

A recent report published on Tuesday has offered an insight into the effects of the COVID 19 pandemic on Nigeria’s economy.

The report is from research that was carried out by both the United Nations Development Programme and Nigeria’s National Bureau of Statistics.

In a survey, more than 3,000 businesses in both the formal and informal sectors of the country and concluded that more than 20% of the country’s workers lost their job during the pandemic.

In March National Bureau of Statistics revealed that 1/3 of the country’s working population lost their jobs in the third quarter of 2020, with the pandemic playing a critical role in this.

Although they have been promising signs of recovery recently, the socio-economic impact of COVID 19 on the country cannot be overlooked.

Many businesses in the informal sector grumbled about the lasting effects of revenue decline and higher costs on their business.

Only a few in sectors such utilities, financial, and health sectors reported gains in the pandemic-plagued 2020.

Nigeria’s economy as a whole was battered due to the drastic drop in oil prices as a result of turmoils caused by the pandemic given that 70% of its revenue comes from oil.

Read also: Deadly COVID 19 Has Orphaned 4,000 Nigerian Children

Furthermore, the World Bank estimated that 11 million Nigerians will be pushed into poverty in 2022, taking Nigeria’s total poverty population to 100 million.

Although growth has resumed after the recession triggered by the COVID 19 pandemic, Nigeria has been left lagging behind the rest of sub-Saharan Africa.

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