THE UNTOLD REALITY OF COVID-19 PANDEMIC ON SOCIAL AND ECONOMIC BONDING SYSTEM OF PETTY TRADERS IN ODEDA AND OSIELE MARKETS, OGUN STATE

Authors

  • Muyideen Folorunsho OGUNMEFUN
  • Evelyn Tolulope ALUKO
  • Damilola Olayemi AMOSUN
  • Abayomi Richard ABORISADE

Keywords:

COVID-19, Economic, Social, Bonding System, Petty Traders

Abstract

 The emergence of COVID-19 in the world today has greatly affected all other social institutions in the world. Thus, the situation of the pandemic in Nigeria has greatly affected social network and business activities of the petty traders. In Ogun State, the plan of the State Government toward the distribution of palliative measure lack human face due to absence of transparency and accountability in the distribution of the incentives to petty traders leading to increase in poverty, trauma, unemployment, inequality and absolute emotional neutrality among others. Extant publications were reviewed with elite theory for the inquiry. Mixed methods and descriptive research design were adopted. Nonprobability sample method (purposive sampling) was adopted to serve 200 structured questionnaires among petty traders but 185 was found useful in the selected markets while out of 20 in-depth interviews were conducted 15 was found useful for the research. The result on how the emergence of COVID-19 affect income of the petty traders shows X2 (8.45) df-1 p = 0.000 (P < 0.05), while the relationship between emergency of COVID-19 on  psychological and physical well- being of market men and women in Odeda and Osiele were significant at  X2 (7.81), df-1 p = 0.000 (P < 0.05).The result of the in-depth interviews shows that 15 out of the 20 participants interviewed agreed that COVID-19 affected their income and social network system. It is on this ground that the following recommendations were stated, Nigerian government should encourage the improvement and development of traditional medicine for curing COVID-19 pandemic. Nigerians Government should constantly provide loans at zero interest to the petty traders to encourage them in growing their business activities. Embrace constant checking and obeying the vaccination rules and regulations  

References

Adejugbin T,A (2002), Milestone and social system in Yoruba Historical and Culture. Nigeria. Olu-Akin Publishers

African Development Banks Reports (2019), Working Together for African Progress issue 1June 2019

African Development Banks Reports (2017), Social Bond Frameworks issue 1September 2017

Babawale I (2008), Africa and Africa Diaspora Relations; Challenges, Opportunities and Prospects. CBAAC

occasional Monographs10Nigeria and Oxford. Malt-house Press Limited

Barro, R.J, Ursúa, J.F & Weng J (2020), The coronavirus and the great influenza pandemic: Lessons from the

“Spanish flu” for the coronavirus’s potential effects on mortality and economic activity.

https://doi.org/10.3386/w26866 (March 2020).

Barya, J (2011), Social Security and Social Protection in the East African Community. Fountain Publishers. Eastern

African Center for Constitutional Development. Kampala. Uganda

Bertik, A.W, Bertrand, M, Cullen Z, Glaeser, E, Luca M & Stanton, E (2022), The Impact of COVID-19 on Small

Business Outcomes. Proceedings of the National Academy of the United States of America. 119(5)

Cajner D.C, Elvis K.L & North E. (2020), The US labor market during the beginning of the pandemic recession.

http://doi.org/10.3386/w27159 (May 2020)

Elaigwu J & Garba A (2012), Federalism and National Integration in Nigeria. African Journal of Federal Studies2(1)

-162

Devereux S, Davies M & McCord A (2010), Social Protection in Africa; Evidence, Politics and Rights Poverty and

Public Policy. 2(3) pp 12-18

Division for Social Policy and Development (UNDESA, 2016), Sustainable Development Goals and Family Policies.

United Nations Development of Economic and Social Affairs

Garrett T.A (2020) Economic effects of the 1918 influenza pandemic: Implications for a modern-day

pandemic. https://www.stlouisfed.org/∼/media/files/pdfs/community-development/research- reports/pandemic_flu_report.pdf. Accessed 2 January 2022

Garrett T.A (2018), Economic effects of the 1918 influenza pandemic: Implications for a modern-day

pandemic. https://www.stlouisfed.org/∼/media/files/pdfs/community-development/research-reports/pandemic_flu_report.pdf. Accessed 1 July 2020.

International Financial Corporation Reports (2020), Social Bond Impact Reports. World Bank Group (WBG, 2020)

Oduro A.D (2010), Formal and Informal Protection in Sub-Saharan Africa. Paper Presented at Workshop “

Promoting Resilience through Social Protection in Sub-Saharan Africa organized by the European Reports on

Development in Dakar, Senegal. Pp28-30

Shanyanana R.N & Waghid, Y (2016), Reconceptualizing Uhuntu as Inclusion in Africa Higher Education towards

Equalization of Voice. Knowledge Culture 4(4) pp 114-120

Trager L (2001), Yoruba Hometowns; Community Identity and Development in Nigeria. Ibadan. Spectrum Books

Limited

United Nations Development of Economic and Social Affairs (UNDESA, 2009), Creating inclusive society; Practical

Strategies to promote Social Integration. UNDESA, 2009

World Bank (2013a), Inclusive Matters—The Foundation for Shared Prosperity. Washington DC . World Bank

World Bank (2016a) Poverty and Shared Prosperity 2016--- Taking on inequality. Washington DC World Bank

Downloads

Published

2022-05-05