cover image: COVID-19 IMPACT STUDIES ON THE NATURAL RESOURCES SECTOR OF FIVE ANGLOPHONE COUNTRIES

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COVID-19 IMPACT STUDIES ON THE NATURAL RESOURCES SECTOR OF FIVE ANGLOPHONE COUNTRIES

30 Nov 2021

In addition, it evaluates the effectiveness of fiscal and macroeconomic policies implemented to mitigate the effects of the COVID-19 on the economy and livelihood of the people. [...] 2.2 Area of the Study This paper is an analysis of the impact of COVID-19 pandemic on the Nigerian economy with emphasis on the natural/extractive industries sector and the focus is on the contributions of Crude Oil, Gas and Gold being the three most important minerals exploited in Nigeria. [...] To mitigate the effect of all these shocks on the economy and the livelihood of residents, the government designed and implemented fiscal, monetary and compensating measures in the form of social protections for the poor and vulnerable (Abayomi 2020, Andam, Edeh, Oboh, et. [...] The first of these reforms is the implementation of the Artisanal and Small-Scale Mining and Remote Sensing Monitoring System which aims to regulate and support the activities of artisanal miners and ensure the provision of tools required for mining and thereby ensure the safety of the miners and the environment. [...] The seeming inconsistency in the impact on production, employment, income and prices is because the impact on oil and gas and that of gold were different due to differences in the ways mining activities were organised for the two commodities and the opposing direction of the movement of the prices of the two commodities.

Authors

Ernest Tay Awoosah

Organizations mentioned

Pages
68
Published in
Ghana