Download This PaperCOVID-19: A Situation Analysis of Nigeria’s Economy
Abere, O. J., Survival Analysis of Novel Corona Virus (2019-Ncov) Using Nelson Aalen Survival Estimate. International Journal 0f Business Education and Management Studies. Vol. 3. Issue 1. P30-40, 2020
6 Pages Posted: 20 Apr 2020
Date Written: 2020
Abstract
The study examined the relationship between COVID-19: a Situation Analysis of Nigeria’s Economy. To carry out this study, one specified research objective was set in which the null hypothesis was formulated and used for the study. The research design for this study is an Export Facto design. Data for the study was extracted from government official documents and they were subjected to The Philip Peron (PP) test analysis using Bartlett-kernel procedure to determine the bandwidth for the test. The study concluded that in the long-run, impact of COVID-19 on Nigeria's economy is positive as expected, indicating that a unit decrease in oil price as a result of the COVID-19 increases Nigeria’s economy stress by 0.005 units. The result is also statistically significant. And also recommended that the government should intensify efforts to curb the spread and effect of the virus to promote a healthy environment where economic activities can continue. A moratorium should be given to some SMEs, industries, and businesses to help their business sprout again, because some of them have used the business working capital/operational cost for family feeding during the lock-down. The government can give interest-free loans to help some stressed businesses swing into operation.
Keywords: COVID-19; Pandemic; Virus; Nigeria; Economy
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