Expert Promotes e-Commerce

A Lagos-based Development Economist, Adeola Seyi-Smith, has stressed the need for the federal and state governments to encourage e-Commerce and support online shopping among Nigerians, with the outbreak of the COVID-19.

He, advised governments to encourage and promote online shopping among Nigerians, in order to stop the spread of Coronavirus.

However, he faulted the recent decision by the federal government to shut down economic activities in some states of the country, as measures to stop the spread of virus.

Reacting to Sunday’s nationwide broadcast of President Muhammadu Buhari, where the he ordered a total lockdown in the Federal Capital Territory, Lagos and Ogun states, Seyi-Smith

Seyi-Smith said: “Hundreds of jobs have been wiped off like almost all the value chains including manufacturing, sales, and marketing, distribution, wholesale and retail, governance, aviation, tourism among others have been impacted negatively by COVID-19.

“The aviation industry, one of the worst-hit as a result of travel restrictions imposed by many countries, has recorded more job losses. For instance, WestJet has laid off 6,900 workers due to a downturn in business because of COVID-19.

In a similar circumstance, Air Canada has put 600 pilots on compulsory unpaid leave pending improvement in the situation of things.

“Coming home, the International Air Transport Association (IATA) has estimated that the restriction on air travel by the Federal Government aimed at curtailing the spread of coronavirus would cost the aviation industry $434 million in revenue, 2,200 lost jobs, and loss of approximately 2.2 million passengers.”

According to him, The Wall Street Journal puts the US job losses at around five million while experts have predicted that economic shortfall arising from the effects of COVID-19 could hit up to $1.5 trillion across the US and a probable economic recession.

He said as travel bans, restrictions on large gathering and enforcement of social distancing among other preventive measures to curb the widespread of the deadly virus intensify, both the federal and state governments in Nigeria are even rolling out stricter measures to halt the spread, some of which may hurt more in the long run.

Given that the number of infected persons in Nigeria has risen significantly, Seyi-Smith said it became pertinent to advise the government to exercise caution in pronouncing total lockdown or shutdown