Since the coronavirus was discovered in Wuhan China in December 2019, the socio-economy of the world has changed. The world is also witnessing a culture reorientation. Lockdowns and the closing of national borders enforced by governments have paralyzed economic activities, laying off millions of workers worldwide. Governments across the world are rolling out fiscal stimulus measures—equivalent overall to roughly 10 percent of the world GDP —to fight the pandemic and minimize the impact of a catastrophic economic downturn. The world is in what is now called the new normal.

1. Socio-Economic impact of COVID-
19: Living in a new world
By
Adesoji Adesugba DBA, MBA, M.Sc.

2. Contents
• Introduction
• Understanding the Virus
• Nigeria and the Spanish Flu
• 10 Top Causes of death
• COVID-19 Data and Nigeria
• The New Normal
• Socio-Economic Implications
• Conclusion

3. Introduction “The COVID-19 pandemic is far more than a health
crisis: it is affecting societies and economies at
their core. While the impact of the pandemic will
vary from country to country, it will most likely
increase poverty and inequalities at a global scale.”
UNDP

4. Introduction
Contd.
Without urgent socio-economic responses, global
suffering will escalate, jeopardizing lives and
livelihoods for years to come. Immediate
development responses in this crisis must be
undertaken with an eye to the future, and we must
individually understand situation and plan
accordingly.

5. Understanding the Virus
It is important to determine what we know. The notion of a Post COVID-19 is a
misnomer. We need to put the future in proper perspective and not live with the
idea that the virus will just disappear soon.
It is in this context that I want us to look at the socio-economic impact of the
pandemic and how to prepare ourselves under a new world order which many
are calling the “new normal”.

6. Nigeria and The Spanish Flu

7. Nigeria 10
Top Causes
of Death
• Tuberculosis
• Meningitis
• ischemic heart
disease
• Stroke
• Cirrhosis
• Lower respiratory
infections
• Neonatal disorders
• HIV/AIDS
• Malaria
• Diarrheal diseases
http://www.healthdata.org/nigeria
https://www.who.int/news-room/feature-
stories/detail/world-malaria-report-2019

8. COVID-19 Data
Confirmed Changes
Today
Critical Deceased Changes
Today
Recovered Active
World 5,932,227 ↑ 31,320
(0.53%)
2,968,389 362,618 ↑ 1,069
(0.3%)
2,601,220 3,079,588
Europe 2,117,355 ↑ 10,569
(0.5%)
622,510 176,511 ↑ 317
(0.18%)
1,047,493 893,349
North
America
1,974,919 ↑ 4,047
(0.21%)
1,239,636 120,292 ↑ 479
(0.4%)
504,047 1,350,578
Asia 1,455,107 ↑ 24,791
(1.73%)
629,343 33,755 ↑ 494
(1.49%)
792,007 629,343
Africa 130,118 ↑ 667
(0.52%)
72,790 3,796 ↑ 5
(0.13%)
53,530 72,790
Nigeria 8,915 6,064 259 2,592 6,064
Source: https://ncov2019.live

9. The New
Normal
This has resulted in what we now call the new norm.
The COVID-19 Pandemic has caused panic and the
shut down of global economy.
What are the effects of COVID-19 on the socio-
economy of our country?

10. Socio-Economic Implications
Global recession
Global economy
grinds to a halt
Closure of
businesses
Loss of jobs
Increased
Poverty
Global
Restrictions
Social
Distancing

11. Socio-Economic Implications - Global Recession
BUSINESS
CLOSURES
LOSS OF JOBS DECREASED
REMITTANCES
INCREASED
POVERTY
TRAVEL
RESTRICTIONS
LOCKDOWNS LABOUR
MIGRATION

12. Socio-Economic Implications - Challenges
Your Health/ Emotional and
Psychological trauma (those
who have been infected,
those who have lost loved
ones, those who are in the
frontline
Remote Offices. The new
Norm, can you cope? If you
are not the tech type, what
do you do?
Social distancing, how easy
to adapt?
Cultural reorientation
(Religious gatherings,
funerals, leisure, hospitality)
Education (In Nigeria there is
no culture of e-learning)
Increased Poverty

13. Socio-
economic
Implications -
Opportunities
New modes of socializing – Zoom meetings
For Government, it is an opportunity for a reset – activate development
friendly policies
Innovations
Encourage Local production
Technology and E-Learning
Local Supply Chain Opportunities
Health and Medical sector
Personal development (learning new tricks)

14. Conclusion
The coronavirus is real, we already have stories to
tell, and it continues to spread. The socio-
economic impact of the virus is in real time. The
world we used to know has changed, and so is the
way we will now do things. For a long time to
come, new terms and words such as social
distancing, testing, quarantine, lockdown, supply
chain etc. will continue to be of great importance
in our daily lives. Jobs will be lost, new skills will be
learnt, new ideas, innovations, and new rules for
traveling and relating to each other will be part of
the new normal. We are definitely in a new world
and new cultures will emerge and like new kids we
better start learning how to cope with our new
realities and living in a new world

15. Keep Safe
”In the midst of chaos,
there is also
opportunity”
by SUN TZU