The State and COVID-19 Economic Recovery Strategy in Nigeria

Abstract

Beyond the untold health challenges, the COVID-19 pandemic brought significant economic disruption; inducing one of the worst global recessions since World War II. However, while studies have explored the socio-economic and health implications of the pandemic; including governments’ social protection responses through relief packages, extant literature has glossed over the Nigerian COVID-19 economic recovery strategy. Anchoring on the Rentier State Theory and Qual-dominant approach, this study examines the nature and trajectory of the Nigeria economic recovery strategy in the shock of COVID-19 recession. It found that despite the vulnerability of an oil-dependent economy as was exposed by the COVID-19 lockdowns, the Nigerian economic recovery and sustainability Plan 2020 to 2025 still rely on oil rents. Thus, the study concludes that without the development and expansion of domestic manufacturing through science and technology, the Nigerian economy is unlikely to survive future economic shocks. Therefore, the study recommends that to ensure sustainable economic growth and development, the domestic and home-grown industries should be expanded and sustained to drive the Nigerian economy.