Socio-Economic Effects of Coronavirus Disease 2019 (COVID-19) on Logistics Industry in a Developing Nation (Published)
Logistics plays a vital role in the growing global economy and increaseed competition. Investment in logistics business enhances the economic growth of a nation. Consequently, COVID-19 virus crippled the economy. Thus, leading to recession. The aim of this research examined the socio-economic effects of Covid-19 virus on the logistics sectors in Nigeria. Both primary and secondary data were used in which descriptive and inferential statistics were adopted. Survey design was used for the inferential statistics. Questionnaire was used as instrument to collect information from 120 respondents. The result showed that the Gross Domestic Product (GDP) decline because of the COVID-19 pandemic. Also, a relationship was established between COVID-19 and Logistic sector at r = 78.1%. It was concluded that COVID-19 pandemic has limited the logistics sector in terms of logistics service, revenue generation and employment opportunities. It was recommended that a less tax burden should be considered by the government to support the logistics sector.
Citation: Dosunmu Victor Ayodele (2022) Socio-Economic Effects of Coronavirus Disease 2019 (COVID-19) on Logistics Industry in a Developing Nation, European Journal of Logistics, Purchasing and Supply Chain Management, Vol.10 No.1, pp.24-30