Nigeria in post-Covid era

Nobody knows exactly when the deadly corona virus will end. The global pandemic has continued to affect the world’s economy, Nigeria inclusive. Nigeria which operates rent economy and depends on crude oil for its revenue will likely bear the brunt.

The outbreak of Covid-19 has exposed the weakness of Nigeria in so many ways. First, our overstretched health care system has been severely hit. The poorly funded health sector can neither contain the spread of the corona virus nor detect it. The sector has suffered a total neglect from our     leaders who embark on medical tourism at the slightest minor ailment such as common headache which costs the country billions of dollars annually.

In the post-Covid-19 era, the government should wake up from its deep slumber, go beyond rhetoric and fix our comatose health sector. There is the need for government at all levels to increase budget for the health sector.

In the post-corana era, Nigerians want to see newly built hospitals across the country. Government should also employ and train adequate health manpower to confront the ever-increasing health challenges of the country. If these measures are put in place, our moribund health care system will be reinvigorated and contain the excessive taste of foreign medical tour by our ruling elites. The common man who has suffered enough and lost confidence in our health care system will heave a sigh of relief. Poor people will patronise the government hospitals with great enthusiasm.

Another sector which will suffer the Covid-19 devastating consequences or effects is the petroleum industry. Nigeria is a mono -economy. The country relies on crude oil to fund 70 to 80 per cent capital and recurrent expenditures. The 2020 budget which was prepared based on 68 dollars per-barrel benchmark will soon be reviewed to reflect the current global oil price that plummeted due to covid-19 pandemic, although in recent times, government has devised and thought outside the box on how to address the challenges of revenues falling.

Some of the drastic measures so far taken are closure of border and increase in VAT. These policies have yielded positive results. In post Covid-19 era, the government should go beyond these policies. Our money-guzzling democracy should be properly examined and cost of running it pegged .The national assembly has continued to milk the country dry through over floated salaries and allowances. There is the need for government to cut up the salary and allowances of our legislators to save cost of governance.

In the face of Covid-19 pandemic, there are imminent jobs losses in the formal and informal sector of the economy. The banking sector has sent panic signal to its employees. Already, some banks have started sacking workers and promising to pay half salary to their surviving ones. Kaduna state governor deducted 25 per cent of his personal salary to fund Covid-19 intervention programme last month.

Unless government follows due process, many jobs will be lost after the pandemic. The government should save the situation amidst rising of unemployment in the country. The post Covid-19 period should serve as a time for sober reflection and reassessment of our economy. Let government do whatever is necessary to fix our battered economy.

Ibrahim Mustapha Pambegua,

Kaduna State

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