Nigeria has one of the countries whose experience of poverty and unemployment is on the high side makes this study to look into the effect of the economic lockdown during the global pandemic in the country, with the aim of making effort on how this effect can be translated into economic development. Survey research design method was adopted with self-administered questionnaire used to collect data. Findings revealed that in Nigeria COVID -19 outbreak effects was felt in almost all sectors and the aftermath greatly affected the country’s GDP and this adversely affect rural development in the country, which translated to a worrisome rate of poverty and unemployment. Hence, both individual and government have now seen that campaigning for economic diversification is not sufficient for economic development but rather a prompt swing into action by all is needed for sustainable development of rural areas to respond to the worrisome rate of unemployment and in turn high level of poverty caused by the COVID-19 lockdown in the country. It was recommended that government at all level as well as individuals and stakeholders should put in place actions that would gear up rural development and set policies at their various helms of affairs that would encourage economic participation of all citizens in all sector of the economy.
Multinationals and Economic Growth in East Asia: Foreign Direct Investment, Corporate Strategies and National Economic Development
- Edited by Shujiro Urata, Chia Siow Yue, and Fukunari Kimura