Earlier this month, shortly before the global outbreak of the Coronavirus, also known as COVID-19, the price of oil tumbled from $68 to $30 per barrel. It’s a double whammy for oil-dependent countries, but particularly Nigeria, one of the world’s most volatile economies. With oil accounting for 96 per cent of Nigeria’s exports and over 75 per cent of its revenue, and with oil prices permanently in a downward spiral, Nigeria is utterly vulnerable, unable to cope with major pandemics, such as COVID-19! Thankfully, Coronavirus hasn’t swamped Nigeria, and one prays it doesn’t. But, God forbid, if COVID-19 hits this country in its full force, the truth is that Nigeria can’t cope with the ensuing health crisis, economic emergency and social calamity. Nigeria simply lacks the medical or scientific capability, the social and institutional capacity, including a welfare system, and, of course, the economic wherewithal […]