VIABILITY OF NIGERIA NATION AFTER CORONA VIRUS DISEASE (COVID-19): SURVIVAL STRATEGY AN IMPERATIVE ACTION

August 2020 | AJBFMR


Corresponding Author E-mail: lawalyo@abuad.edu.ng
Published: 30 August 2020

Abstract


Nigeria had run a diversified economy and self-sustained regional governments before the military intervention in 1967. Thereafter, Nigeria was split into thirty-six states within six zones, which had depended almost completely on Federal government revenue from petroleum-dollar. This study examined how Nigeria could survive under the current world economic downturn and proffer solutions. Revenue data were collected and analysed with probability distribution function. Twenty-four states and five zones had depended more than 70% on the Federal Government revenue allocation. To avoid collapse, the government must diversify economically, stimulate production, and restructure along its geographical zones to reduce the cost of democratic governance.

Keywords:

Viability, Covid-19, Survival, Strategy, Imperative, lockdown, Internally Generated Revenue