Impact of COVID19 on Businesses in Nigeria

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By: Abraham John Onoja

One of the key questions posed months ago revolves around the post pandemic realities; essentially, what next?

A number of projects were projected and developed for managing the envisaged reality. This was informed by the need to create and ensure that the lost economic momentum is channeled through alternative productive channels. Are these projects feasible, relevant or even sustainable? Would everyone be able to revert to their normal lives?

I will approach the subject subject thusly,

  • Key goals
  • Intended users
  • Necessity of each project at the time
  • Key personnel required to execute the project.

The key goal is to pin point and expressly state the impact of the present global pandemic on businesses, firms, corporation and the public sector. The most affected are the masses, who are unable to afford the basic needs of man. Allow me to also say that the key intended users would be the general (maybe it’s even okay to say that its just the rich masses). Join me as I dive certain sectors of concern to me.

The nascent e-education sector requires teachers and students to meet online for the purpose of learning. An obvious outcome is that the poor masses would be disadvantaged due to the lack of funding for devices and prohibitive cost of internet access. Private and State funded institutions may have a reasonable go at it but Federally funded institutions would be significantly challenged. Thus, it wouldn’t be beyond the realms of expectations for lecturers to expect the students to fund their data. Students would also have to stay connected to have access to lecture notes and online classrooms. Inevitably, education will then become very expensive and devolve into the exclusive reserve of the rich. The personnel involved in seeing this to success include the teachers, lecturers, IT personnel.

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Let’s look at the e-health sector being clamored for. The e-health is a sector that thrived at the time as machines for self-examination was employed. Need I also say here that health facilities became very expensive and was made available to the rich thereby causing the poor masses be at the losing end. Wondering if the facilities could be made available at a subsidized rate?” Kudos to the health workers including the Nurses, doctors, laboratory scientist amongst others who made the time seamless for everyone.

Another very keen sector for me is the FINTECH. This world of Fintech at the time definitely thrive and continued to bloom. Companies in this sector made such a remarkable increase in their revenue as it trended upward. This sector positively affected the masses as a number of the poor and the un-informed needed to make mobile transfers or receive money and this was only made available via the e-platforms. Few months back, the MD of Access bank informed the general public of its intention to lay off 75% of its unskilled workers including tea boys/girls, securities and other non-staff which might also affect the full-time staff in the long run as their salary pay might be significantly cut down. It only takes one company to take the bold step of taking a decision and others would follow suit. This sector probably saw the need for human resource previously as needless at the time and invested more on its digital platform. The personnel here with more money were the Investment Analysts, software developers, content creators.


It is okay to have pin pointed out the above listed industries that thrived at the time but I think scores wouldn’t be given if I left out sectors like “e-commerce” and “Telecommunication” sector. E-commerce at the time was most demanded for as a significant portion of the masses were trying to maintain #social-distancing while trying to survive and stay safe. Logistics companies at the time was requested for more and needed for delivery services.

Preferably companies that have already employed the use of DRONE (which is not fully effective thou). The same applies to the Telecommunication sectors as the public whether poor or rich needed to stay connected to the world as well as communicate with their relatives both far and near. The Agricultural sector at the time also thrived because a number of farmers had access to government loans and machines as mechanized agriculture became more appreciated at the time to aid high production of agricultural products. Importation drastically reduced has the federal government refused to lift the ban on travels.

Another profession that miraculously had its way to the top was the ACCOUNTANT. Companies needed them more at the time. Their services were required as they oversee and were in charge of keeping records of inflows and disbursement of cash.
Conclusively, it saddens my heart as I won’t agree less that every man for himself at the time. The world became the SURVIVAL OF THE FITTEST where only the strong wins.

Author: Kolade OloladeMultiple Award Winning Blogger:: Content Provider :: Graphics Designer :: Social Media Manager :: PR :: Human Resource Enthusiast

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