Monday, 29th November 2021
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World Bank advocates policy action to curb COVID-19 effect on households

The World Bank says immediate policy action is needed to curb the long-term impacts of the COVID-19 crisis on the lives and livelihoods of Nigerian households.

The World Bank says immediate policy action is needed to curb the long-term impacts of the COVID-19 crisis on the lives and livelihoods of Nigerian households.

The bank said this in a report it released, yesterday, titled, ‘COVID-19 in Nigeria: Frontline Data and Pathways for Policy’.

The report said COVID-19 hit countries with health and economic shocks which effect will be felt far into the future.

According to it, in countries like Nigeria that already faces complex development challenges, the pandemic continues to affect health outcomes, human-capital accumulation, household poverty and coping strategies and labour-market dynamics.

The report draws on innovative sources of high-frequency data, such as the Nigeria COVID-19 National Longitudinal Phone Survey (NLPS), to inform the choices Nigeria’s leaders now face.

The NLPS represents a successful collaboration between the National Bureau of Statistics (NBS) and the Data Production and Methods team at the World Bank, it said.

Unveiled in April 2020, almost immediately after the COVID-19 crisis began, it has since regularly collected information on key social and economic outcomes, up to 12 times, from households across Nigeria.

“The report shows that the consequences of the COVID-19 crisis for human capital, livelihoods and welfare are proving to be severe. While many schools have reopened across Nigeria, learning that was lost during the COVID-19 crisis still needs to be recouped and some children have not returned to school.”

“Even though many Nigerians have returned to work, the jobs to which they have shifted, mainly in small-scale non-farm enterprises, may not offer income security, making it difficult for households to escape poverty.”

It, however, said that with the COVID-19 crisis ushering in associated shock, especially to food prices and social protection remaining rare, households’ food security and their welfare at large was under serious threat.

The report’s findings, therefore, underscore the urgency of far-reaching reforms to strengthen Nigeria’s economy and development outcomes.