The COVID-19 outbreak across the world has ground activities to a halt in various sectors with projections that the global economy will suffer a recession.
The World Bank also projects that sub-Saharan Africa’s economy will slip into its first recession in 25 years.
Although industries like aviation and hospitality have suffered greatly as a result of travel restrictions, the pandemic has been a blessing for other sectors.
Here are some of the sectors that are thriving in this pandemic:
Companies in Nigeria’s IT sector have witnessed an upsurge in patronage as more states across the country impose lockdown on citizens to combat the spread of coronavirus.
Companies whose staff now work from home have resorted to technology products to ensure that operations continue.
Entertainment platforms, including video-on-demand platforms like IrokoTV, would also enjoy increased patronage during this period.
On the global scene, Zoom and Tik Tok are among apps that have witnessed an upsurge in usage as the need for virtual connection increases.
Due to the lockdown directive which logistics companies are exempted from, people now have to depend on logistics service providers to run errands.
The reduced pump price of petrol would also translate to a drop in operating costs.
The lockdown directive in Lagos, Ogun and Abuja has restricted restaurants to pick-up and delivery services meaning that customers who use the dine-in option would have to choose alternative forms of service.
With consumers having free time on their hands, telecommunication companies would record an increase in subscriptions to value-added services.
Although telcos may lose subscriptions by companies, retail subscribers would increase airtime and data recharges during the lockdown.
The power sector is not limited to the electricity generating and distribution companies.
Although residential power consumption would increase during the period of the lockdown, the epileptic power supply would deprive DisCos of earning the maximum revenue possible from consumers.
Thus, consumers would seek alternative power sources to provide electricity for their homes.
Generator and solar panel dealers would experience increased patronage during the period of the lockdown.
Dealers would have to use social media and logistics companies to reach customers.
Nigeria’s healthcare sector has received interventions and donations from different quarters to ensure that frontline workers have the equipment needed to treat COVID-19.
At the end of the crisis, some of the country’s hospitals would be able to boast of more equipment and some laboratories, better capacity.
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