Impact of COVID-19 Pandemic on Financial Health and Food Security: a Survey-Based Analysis

32 Pages Posted: 4 Jun 2020

See all articles by Oludiran Akinleye

Oludiran Akinleye

University of Lagos

Risikat Oladoyin S. Dauda

University of Lagos

O. Iwegub

University of Lagos

O. O. Popogbe

University of Lagos

Date Written: June 4, 2020

Abstract

This study investigated the impact of COVID-19 pandemic on the health, food security and financial lives of Nigerian households. The data for the study were collected using a questionnaire for 813 households from the six geo-political zones in Nigeria and the results were analysed using descriptive statistics and ordinal logistic regression model. The findings showed that the COVID-19 pandemic has affected households’ personal savings significantly. Majority of the households’ healthcare financing is borne out of their personal income and savings in the absence of a health insurance scheme. Households experiencing worse financial status largely do not have food during the pandemic. Many households have a positive expectation that they will recover from the unfavourable financial condition they are currently experiencing and there is a strong traditional support system existing in the localities during the study period. Food insecurity during the pandemic was significantly occasioned by increases in prices, fall in income and adverse financial well-being. The study thus suggested, among others, the need to urgently enhance the economic and financial well-being of the Nigerian populace to guide against the worsening and devastating impact of the COVID-19 pandemic on food security in Nigerian households.

Keywords: COVID-19, Financial Health, Food Security

JEL Classification: I12, I18, I38

Suggested Citation

Akinleye, Oludiran and S. Dauda, Risikat Oladoyin and Iwegub, O. and Popogbe, O. O., Impact of COVID-19 Pandemic on Financial Health and Food Security: a Survey-Based Analysis (June 4, 2020). Available at SSRN: https://ssrn.com/abstract=3619245 or http://dx.doi.org/10.2139/ssrn.3619245

Oludiran Akinleye (Contact Author)

University of Lagos ( email )

Akoka
Yaba
Lagos, LA Lagos state 234
Nigeria

Risikat Oladoyin S. Dauda

University of Lagos ( email )

Akoka
Lagos
Nigeria

O. Iwegub

University of Lagos

Akoka
Yaba
Lagos, LA Lagos state 234
Nigeria

O. O. Popogbe

University of Lagos

Akoka
Yaba
Lagos, LA Lagos state 234
Nigeria

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