The Infected Economy: Interrogating the Early Economic Impacts of COVID-19 Pandemic in Nigeria

Abstract COVID-19 pandemic infests every sphere of life, including the economy, thereby accounting for tremendous economic calamities on a global scale. Some such are still evolving. This paper examines impact with particular emphasis Nigeria within early days pandemic. The article established its theoretical foundation through marriage both AK-type endogenous growth theory and model an assumption increasing returns to Using simple descriptive technique, identified devastating impacts oil-dependent economy in short run. identifies four fundamental shocks; declined price oil; unplanned increase health spending, temporary shutdown local economy; unanticipated palliative needs. these also include loss income output, rate unemployment, poverty contributing disruption previously steady rate. In longer term, COVID-19-related damages will have no or insignificant negative growth. is bound bounce back path provided quality institutions strengthened extent surmounting disruptive shocks.