Effects of Covid-19 on the Economy of An Oil Dependent Nigeria

The Coronavirus (COVID - 19) has created anxiety and fear, it hit the global economy, amplified volatility in several international domestic financial markets. It is a deadly virus that forced world into near total lock down claimed millions of lives round world. oil price reaction to COVID -19 was stable accommodating up until March 22 nd , 2020 after release first coronavirus monitoring report by World Health Organization (WHO). Not long Saudi Arabia floods market with oil, as result, prices drop more than 20% one single day. Against this background, purpose paper investigate impact 19 figures on crude prices. pandemic negatively influenced education, religious worship, sporting activities, social gatherings, banking others. state governments, military, NGO, federal government, individuals, bodies provided donated palliatives cushion effects populace. Keywords: Covid-19, Financial Volatility, Coronavirus, Oil Price, Global Economy, DOI: 10.7176/JETP/11-1-02 Publication date: January 31 st 2021