Sooner rather than later, the COVID-19 pandemic will most definitely pass away, we will be faced with the stark realities of the resultant effects of the pandemic and the lockdown. Gradually governments around the world, had begun the lifting of restrictions in movement. Tons and tons of challenges stare us in the face, speaking of which rising unemployment will be the biggest of them, with many firms both multinationals, international, local industries and artisans badly stricken by the lockdown, which has had an adverse effect on productivity, a lull/drop in economic activities for the past few weeks and months. We are not helped by the fact that there's a huge drop in the price of crude oil, which is the mainstay of our almost mono-economy and also the capital flight being experienced, because investors are playing safe, with a "wait and see" attitude, to see how things plays out in the next couple of weeks and months, and how government policies will shape up for the future. I will advice we thread cautiously as we allocate scarce resources at this time, by planning adequately and consciously for the challenges ahead. The government's plans should be swift and all encompassing, so as to mitigate the after effects of the pandemic, by stimulating the rebound of the economy through supporting the different strata of the economy with stimulus packages.


For the informal sector of the economy, loans for micro, small and medium scale enterprises which happen to be the bedrock of our economy due to the large number of manpower it employs, and also being the most adversely affected because they operate on a day to day basis, the government should make provisions to rebuild this sector, by making available interest free or single digit loans, to encourage and revamp that sector of the economy. These loans should have a tenor spread over twenty four (24) to sixty(60) months, to allow the people effectively rebuild while paying off the loans and a six months moratorium on the loans from when accessed. The loans should be actively disbursed by the formal private sector such as microfinance-banks, whilst the government agencies in my opinion should be acting as supervisors to monitor effective disbursements. This approach will eliminate the bottlenecks and bureaucracy associated with government agencies handling such projects, with the attendant nepotism and corruption it creates.

For the formal sector of the economy which has also been affected greatly, the stimulus packages should come in the form of tax breaks and government supports in whatever ways it deems fit, to encourage growth and productivity, as this will eliminate the threat of having to cut down on staff numbers to save cost and also stay afloat in business. Loans can also be advanced to this sector of the economy.

As has been exposed by the pandemic, we have all witnessed the excessive rot in the everyday social welfare life of the almost two hundred million inhabitants of this nation. We saw the massive lack of infrastructures, materials and equipment in the health and education sector, which at best was grossly inadequate or completely unavailable. In the public health sector, there is a complete shortage of things such as personal protective equipment (PPE), ventilators, bed spaces, intensive care units (ICUs), and even isolation wards for infectious diseases totally lacking in some cases. The education sector is also terribly hit, with students still kept at home for weeks without any end in sight, whilst their counterparts in foreign countries are already improvising and adjusting, using technological advancements effectively to continue teaching and learning. This is achieved through means such as video teleconferencing and online tutorials. In the next few years, there should be concerted and sustained heavy investments in the education and health sectors, as the pandemic hit like a thunderbolt and exposed where we are deeply lacking. Hospitals ought to be upgraded and equipped, schools adequately funded to meet up with global standards, this can be achieved with making a provision that ensures that at least forty percent (40%) of our budgets annually, is committed to this sector, while we encourage private investments through public-private partnerships, to also invest heavily in these sectors, we'd also draw up plans to ensure investors recoup their investments.

The COVID-19 has been very vicious and spreading rapidly, which left governments around the world with little or no choice, but to lockdown cities, towns and countries. In Nigeria, this unplanned lockdown, affected the poor massively as they mostly survive on day to day income and with little savings. Everybody witnessed the struggles for palliatives and it was mostly ineffective, as it mostly didn't reach the targeted members of the populace. We also saw the government, physically handing out cash. There was a general public outcry against such archaic methods being employed to give out to the populace in this digital age, as it even compromised and in most places defeated the social distancing measures being advised, whilst other countries credited the citizenry of their country into their various accounts. There should be a holistic approach to create a honest database of each and every member of the public, whilst also bringing in the un-banked into the mainstream to have their own bank accounts, this will very help to reach out to people easily in the future and also encourage digital economy which is the future. Doing this will also help the government and indeed the whole society, plan towards creating a working social safety net to safeguard the populace against such outcomes in the future.

During the period of these pandemic, it hasn't been all gloom and despair, as we witnessed people who run online businesses still carrying on and even prospering during these pandemic. This should give us a needed insight to invest more in the communications and internet infrastructures, while encouraging all and sundry, to acquire adequate knowledge in the field of information technology, as it has proven to be both a present and future goldmine.

I can't fail to commend the efforts of our frontline health-workers and security men and women, they have continually faced this head on, in this biological warfare of fighting an unseen enemy, they have battled and soldiered on gallantry, even in the face of threats to their own lives. The sacrifices efforts they keep making, cannot be over-emphasized. I will advise the government and indeed the general society to draw a up good insurance plan and reward package for our men and women, who put their lives on the line to safeguard us, and also a very good welfare package for the families they might leave behind should they succumb in the course of discharging their duties. This insurance packages will gradually also be encouraged to grow and capture every other citizen of these country and indeed all it's inhabitants, as it is done in developed climes.

In summary, my suggestions goes thus:

1. Encouraging growth of the informal sector through loans.

2. Policies to encourage the formal sector to stay afloat, e.g. tax-breaks, concessions and loans to enable productivity.

3. Going forward, heavy investments in the education and health sectors.

4. Creation of a database of the poor, vulnerable and indeed all members of the society.

5. Creation of a social safety net to mitigate against future occurrences.

6. An adequate and very sustainable insurance package for the health workers, security persons and indeed every member of the society.

7. Investment in the information technology sector and encouraging massive efforts in learning to acquire knowledge in that field.

We are fighting a battle, a battle that is redefining our common existence and doesn't know any social divides, race, creed, religious affiliations, political leanings or gender. The best way to win is fighting with unity of purpose and also planning accordingly. Good spirited individuals and corporations/firms who are well to do, have come out to support both government and the general public with funds, equipment and foodstuffs to scale through this trying times, indeed these are very commendable efforts. This is the only way we can win this war and indeed we will win this war.