The world of many people across the globe literarily came to a standstill prior to the corona virus pandemic. Nigeria as a country was not left out as many Nigerians witnessed a halt of their normal daily activities. With the multiple lockdown imposed both at the federal and state levels, most people have been forced to stay home doing nothing. The corona virus pandemic has affected almost every aspect of life and has left many wondering how life will be after the pandemic. 3 expected changes in Nigeria are bound to occur post covid-19 based on new trends.
These 3 expected changes in Nigeria are meant to shape both our way of life and the nation’s economy. Over the lingering months of the pandemic, some Nigerians have lost their jobs and source of livelihood. Some SME’s already face treats of possible business closure as the economic situation continue to worsen. Even big companies have been forced to cut down both staffing and payments of staff salaries. Some also have placed their staffs on unpaid leave just to be able to stay afloat through this pandemic period. Despite all these we have all learnt a thing or two from the novel corona virus pandemic. The three expected changes includes business, education and finance. Lets take a look at how these 3 expected changes will affect Nigeria post covid-19
Business
The method and way in which business is conducted in Nigeria is definitely going to see a change especially after the pandemic. Already a lot of businesses and entrepreneur are already going back to the drawing board to re-strategize their brands. Most business did not predict a closure during a business year. While some businesses are thriving during this pandemic, others have been forced to close or find other means of survival. Most organizations like Access bank, Paga tech and co had to slash salaries and sack some of their staff.
Business in general was affected for both large and small organization. In a third world country like Nigeria, the most affected has been the artisan and petty traders. Most of these people depend on their daily trading for survival. With no help from anywhere, most were left at the mercy of God and goodwill of others. We all heard the story of …. Who was willing to sell her body for 500 just to be able to feed her family. This was due to the fact that she could no longer afford to feed her family because of the lockdown.
The Digital Space
As already existing business struggle to survive, new ones are springing up. With lessons learnt from the covid-19 pandemic, businesses are beginning to come up with better models of operation. This is towards staying relevant and profitable to their customers and investors alike. One of such ways has been through the online space (the internet). Both SME’s and large corporations have begun to explore sphere as they plan to go digital. While some businesses have gone digital others are just getting to experience the wonders of the digital space. Businesses like Jumia, Konga, Netflix and co have continued to enjoy operations during this lockdown period.
One thing is for sure, more and more business will follow suite in this going digital trend. As we continue to hope for an end to this pandemic, we will continue to see new businesses spring up online. This is definitely going to change the way business is conducted in Nigeria post covid-19. Taking your business online has proven to the best ways to keep your doors open and reach more people. Apart for the upfront cost depending on your approach, going digital is cheap. It also gives unlimited access to potential clients you can reach as a business.
Education
The education sector in Nigeria has not been left out during this period. With millions of Nigerian students currently sitting at home it only begs one question. What happens to the education sector if this pandemic last for a year or more? The Nigerian education sector has been literarily crippled by this pandemic. Students have been home for months with no possible date of resumption. The Nigerian government has turned its full weight towards the fight against the novel corona virus. The educational sector has been left with little or no attention.
While some primary and secondary schools have looked for other alternatives, some are left with no hope of third term. Tertiary institutions are not left out as they are also closed with no date of resumption too. This is already affecting the nation’s academic calendars and the educational sector as a whole.
With this setbacks, new opportunities are beginning to present themselves. Like with the business sphere, going digital seems to be the next alternatives for schools. As the world looks for ways to bounce back after post covid-19, the educational sector is also not left out. More companies are companies and entrepreneur are beginning to venture into educational technology.
Business day Nigeria recently held a digital dialogue on the way forward for the education sector. It had the likes of David West, Sim Shagaya of Ulesson and co on its panelist. Sim Shagaya mentioned that the way people learn is going to change post covid-19. More tech companies are beginning to find ways to reshape the Nigerian educational sector. Some of the worthy mention includes Ulesson, Clervify, Eduves, Erudites Edutech, and co.
In due time we are going to have a full digital educational system in Nigeria. We are going to have fully automated schools and e-libraries for the Nigerian educational space. The Nigerian educational system is definitely not going to remain the same.
Finance
The way we spend and use money has changed during this pandemic period. The covid-19 pandemic has taught Nigerians financial literacy. Also the way we transact with money has also changed. With the closure of banks and other financial institution, most people have been forced to find other alternative for their financial transactions. Banks and other financial institution has seen a spike in the use of their online platforms. Most Nigerians are beginning to learn how to transact online. I guess the cashless policy drive of the CBN will start to see fruitfulness. The need to buy or spend money has not been deterred by the lockdowns as business still go on.
Most businesses have begun to automate their payment processes, adding another means of receiving payment. In general finance in Nigeria is taking a new turn, and it won’t be long before the changes become visible. More and more financial technologies are been invented and tailored for the Nigerian financial sector. With more fin tech applications available for easy money transfer and bill payment, the transaction pattern is soon going to change for good.
As most aspect of our daily lives move towards digitalization, it’s important we get acquainted with the online space. In the words of Bill Gates “if your business is not on the internet in the next 10 years, then your business will be out of business. But covid-19 has reduced the 10 years span”.
Life as we know it in general is going to change for the better. It’s now best for us to be prepared for the changes to come. Becoming digital literates is one sure way to go.
