How consumption determines the economic impact of pandemics
People walking in a market.   Source: Eva Blue via Unsplash

“As humans spread across the world, so have infectious diseases.” - Nicholas LePan. 

430 B.C - the first-ever pandemic was recorded. Since, we’ve gone from one outbreak to the next, each one varying in length and severity. 

In the last five years alone, Nigeria has battled Ebola, Meningitis, Cholera and is still in the middle of a Lassa Fever crisis. In 2020, there have been around 1,000 confirmed cases and 188 deaths — a fatality rate of 20%. 

According to the Nigeria Centre for Disease Control (NCDC), there were 180,000 cases across six different outbreaks between 2006 and 2019. 

Still, none have had an impact on the economy close to the magnitude of the latest COVID-19 pandemic. 

One explanation is how today’s pandemic affects consumer expenditure.

It makes sense, consumption makes up around 60% of global GDP - for Nigeria, it’s closer to 80%. If an outbreak significantly impacts how

Don’t limit your understanding. Join the Premium community to continue reading.

Gbemisola Alonge

Gbemisola Alonge

Read Latest

The WTO Okonjo Iweala might inherit

PREMIUM - 30 OCT 2020

Police reform: Ideas for Nigeria

PREMIUM - 28 OCT 2020

Landmarks in Nigeria: An untapped economy

PREMIUM - 27 OCT 2020

Restructuring Nigeria’s banks: Holdco fever

PREMIUM - 26 OCT 2020