Now that Covid-19 Has Burst the Bubble on Nigeria’s Economy

20 May 2020

Hi Folks,

That we have come to terms or almost so, with the realities of Covid-19 pandemic is fast syncing in.

The economic challenges that organizations have been contending with has finally been exposed by the advent of Covid-19. Many economies were already at the brink of recession but were patching along to save face; Covid-19 has however, changed the narrative.

The lock-down changed so many dynamics that a whole lot of us are yet to know what hit us, the numbers have continued to drop as clients have continually redirected marketing funds to other uses; leaving the media to source for their funding through other means.

The problem is not with the media industry alone, some industries that require the physical presence of staff, also suffered the loss in revenue. As production had to be stopped since staff would not be able to return to work.

Credit: World Economic Forum

It may not be uhuru for most companies, even as governments across the world prepare to return end the lock-down. Factors like design thinking, automation and artificial intelligence (AI) are elements that should be in the overall plan. Organizations that have towed this line ahead of Covid-19 were less affected and it should serve as a lesson for others.

The return to everyday life may also not be as easy as we think as people will probably not comply with the rules of engagement unless stiff enforcement is put in place.

Laws, HD Png Download , Transparent Png Image - PNGitem

Individuals, organizations and governments need to be futuristic in their thinking in readiness for pandemics or any emergency.

However, do you think relaxing the lock-down will have quick effects on the global economy?

Remember to make someone smile today through your acts of kindness and don’t forget that Covid-19 is still very much around.


Ilupeju B