COVID -19 Pandemic and the Nigerian Business Environment

Abstract

Business environment plays significant roles to the socio- economic wellbeing of the citizens and the nation. Thus, the environment greatly influences the nation’s social and economic profiles if it is favourable. However, the covid- 19 pandemic in recent time has threatened this objective. This study titled Covid -19 Pandemic and the Nigerian Business Environment is written to examine how the business environment in Nigeria is affected by the covid-19 pandemic. The study reached respondents who are residents of the Federal Capital Territory. More so, the study reached these respondents using a 12 items structured questionnaire. The population of the study is infinite considering the nature of the federal capital territory where some respondents are mobile considering the fact that the city is a gateway to other parts of the nation thus, the study adopts Godden sample size statistical formula which generated a sample size of 384. However, out of the total of 384 questionnaires distributed only 288 were duly completed and returned giving a retrieval rate of 75%. The data were analyzed using a five point’s likert scale and the analytical tool is the linear regression analysis. The study revealed that covid – 19 pandemic affected the Nigerian business environment. Thus, the study recommends that apart from improvement of provision of stimulus packages to the operators of businesses in recent time such packages should be extended to the citizens especially the vulnerable groups so as to assuage the effect of covid-19 pandemic and improve the socio-economic wellbeing on the citizens in Nigeria and the federal capital territory in particular.