Covid-19 Crisis May Limit Households Spending On Education, Others—NBS

The National Bureau of Statistics has said the the negative impact of the Coronavirus pandemic on the income of Nigerians may limit their ability to invest in education, health and other areas.

The Bureau stated this in its COVID-19 Impact Monitoring Survey Report for the month of October

The pandemic had so far led to unprecedented drop in global crude oil prices.

The outbreak of the deadly virus in Nigeria had resulted in the lockdown of many states, a development that paralyzed economic activities.

So far, in Nigeria, the very visible
impact had been huge, especially in relation to government finances, capital flow reversals and loss of income to businesses and households

The NBS stated in the Report that while the share of respondents who were working remained stable in October 2020 at 87 per cent, the sixth round of the NLPS provides further evidence that income remains precarious for many households.

Specifically, it said of the 84 per cent of households that operated a non-farm enterprise at any point in 2020, about 22 per cent were not operating their businesses in October 2020.

It said the vast majority of these non-farm enterprises that are currently closed had been open at some point since the start of the COVID-19 crisis, indicating that businesses that may have, at some point, resumed operations were not viable enough to continue.

The Report added, ” If household income continues to be precarious, this may limit the investments households are able to make in education and health services for their members, even if schools fully reopen and the government supports more testing and vaccination.”

The NBS said school attendance in October 2020 was substantially lower than in January/February 2019.

Among household members aged 5-18 years, the Bureau stated that 59 per cent were attending school in October 2020 compared to 74 per cent in January/February 2019.