COVID-19 and its Effects in the Nation Economy

in LeoFinance4 months ago

It is Christmas Eve yet still, it seems as though nothing is happening around us, I would say this is a result of the change in the economy which is caused by COVID-19. Not only did this pandemic take away lives and kept people isolated from their loved ones, but it has also changed the economy of the nation.

The rate at which activities around the nation were withheld due to the pandemic as we all know that the only way to avoid its spread was to withhold so many activities but it did also show its face in the economy of the nation.

Although, I wouldn't say the economy o the nation was that good but it was better than this year. Many people are complaining about how the turn out of this year's December is and how there seems to be a rise in products especially the foodstuffs and it all boils down to the COVID-19 period.

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The pandemic has left many wondering if there is going to be a turn for the better in the economy and activities of the nation but at the rate at which it is going, we can't tell what will happen next.

Many countries that are reliant on tourism, travel, entertainment, and sports for their economic needs have suffered the most in this period. The economic losses that have happened in this period have never been seen or heard of in history and it is making everyone think about what the economy will be like in the coming year.

Economies are in a recession as the demands of people are not meet and there is an increase in prices of farm produces. If the COVID-19 situation gets right, the economies are expected to partially recover in 2021.

The COVID-19 pandemic involved a great change to both demand and supply in the economy. The prices of things are not just costly but they are three times costlier than the normal price

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The loss of income and unemployment rate as a result of the COVID -19 pandemic has worsened the economic state and there is a reduction in productivity.

The prices of things most especially those foodstuffs used in celebrating this festive period are on a higher side and this has caused the nation to wonder if the economy will get any better.

Vegetables like the likes of onions are in high demand but the sizes and cost are breathing taking and keeps people at bay. Likewise the prices of rice and condiment for stew. Many Nigerians will retire to eating the local rice (sand rice) that has a little amount of sand in it because it is cheaper than the other.

This year December seems to be the worst of all the years the nation has ever seen because of the state of the economy.

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Many people have been dealt with seriously by the COVID-19 pandemic and a sure thing that this year won't go out as they've planned or wanted it to be but then we've got a role to play, and that is sharing with our neighbors.

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Let's not wait until our neighbors come running to us for help but out of love and because of the festive period. We know the reason for the festive period, let us reciprocate love to one another. Invite someone home, buy foodstuffs for someone so they can also smile just the way you are smiling.

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The covid 19 lockdown has really caused a lot of damages, mentally and physically to a lot of people people and I hope the coming year will not turn out the same.

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