Economic readiness vital in cushioning against effects of future pandemics (This Day Live) 

This Day Live (Nigeria) published an article stating that the COVID-19 global pandemic affected the health and economy of developed and developing countries alike. While the healthcare system faced huge pressure, the deepening effect of COVID-19 plunged many countries into activating unprepared economic measures – the shutdown of economic activities. According to IFPRI research, Nigeria’s GDP plunged to 34.1 percent which translates to USD 16 billion with two-thirds of this loss coming in from the services sector. The agriculture sector, which serves as the primary means of livelihood for most Nigerians, suffered a 13.1 percent loss. The heaviest losses occured for rural non-farm and urban households. The economic impacts of COVID-19 included a 14-percentage point increase in the poverty headcount rate for Nigeria, which implied that 27 million additional people fell below the poverty line during the lockdown.