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Impact Of Coronavirus On Private School Owner, Economy, Teachers And Students
[A CASE STUDY OF IFELODUN LOCAL GOVERNMENT AREA IN OSUN STATE]
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The outbreak of pandemic Covid-19 all
over the world has disturbed the educational, political, social,
economic, religious, and financial structures of the whole world. The
world’s topmost economies such as the US, China, UK, Germany, France,
Italy, Japan, and many others are on the verge of collapse. Besides,
Stock Markets around the world have been pounded and oil prices have
fallen off a cliff. In just a week 3.3 million Americans applied for
unemployment and a week later another 6.6 million people started
searching for jobs. Also, many experts on economic and financial matters
have warned about the worsening condition of global economic and
financial structure.
What made the 2020 economic crisis different
from other economic crises or recessions in Nigeria was that most
economic agents, who should have helped to revive the economy, were
unable to engage in economic activities due to fear of contracting the
Covid-19 disease, while other economic agents did not engage in economic
activities when the government imposed and enforced its social
distancing policy and movement lockdown in Abuja, Lagos and Ogun states
on the 30th March of 2020.
Ferguson et al.(2020) restated that
pandemics are not new and have occurred at different stages in human
history (Ferguson et al., 2020). While there have been many outbreaks
and human catastrophes, there has been a notable rise in the frequency
of pandemics from the year 2000 and thereafter. This is particularly due
to increased emergence of viral disease amongst animals (Madhav et al.,
2017). Given the rise in the frequency of pandemics, many researchers
including Garrett (2007), Keogh-Brown et al. (2008) and most recently
Madhav et al. (2017) and Fan et al. (2018) argue that a large-scale
global pandemic was inevitable. Ferguson et al. (2020) from the Imperial
College London COVID-19 Response Team claim that COVID-19 is the most
serious episode since the 1918 Spanish Influenza pandemic. Despite the
comparisons, Barro (2020) concludes that the non-pharmaceutical
interventions implemented during 1918 Spanish Influenza pandemic were
not successful in reducing overall deaths. This was because the
interventions were not maintained for a sufficiently long period of
enough time. He estimates that the mean duration of school closings and
prohibitions of public gatherings including hotels was only 36 days,
whereas the mean duration of quarantine/isolation was 18 days (0.05
years). Barro et al. (2020) estimate that, holding everything else
constant, the 2.1 percent death rate during the Spanish Influenza
pandemic in 1918-1920 would translate to roughly 150 million deaths
worldwide (compared to the World’s population of 7.5 billion in 2020)
during COVID-19 pandemic. Barro et al. (2020) also find that, on
average, the 2.1 percent death rate corresponds to 6 percent decline in
GDP and 8 percent fall in private consumption. According to Jonas(2013),
the impact ranges from: avoidance reaction due to social distancing
measures (e.g., individuals might forgo consumption and purchases and
use of certain goods and services including hotel patronage); small
direct costs (e.g., hospitalization and medical costs); larger indirect
costs (loss of labor, production), and offsetting and cascading effects
(disruption of services, travel and others).
1.2 Statement of the problem
A
sudden and unexplained outbreak of the Coronavirus (Covid-19) which
stroke the world in the ending part of 2019 and early 2020 can best be
described as an unforeseen and preparatory task for countries,
governments, entrepreneurs, individuals, and students. Outbreaks of the
disease spread throughout the world, causing education, politics and
economic activity in many countries of the world to be on hold .
Covid-19 infection causes fear, limitation, anxiety, and death to people
and communities around the world. Activities of countries were limited
except for the basics. Organizational such as banks, ministries, and
schools, were all shut down during the spread of the virus.
The
economy of countries were in high decline. Private school owners found
it difficult to survive during the period of the pandemic because
schools were in total shut-down to reduce to rate of the virus
transmission. There was no means of income. Teachers were all at their
homes with no means of earning because they were not being paid
salaries, many teachers had to earn income by engaging in home lessons
for survival. Students were at home during these period and most
students could not engage on online classes due to their parents were
not financially buoyant to provide them with the necessary gadgets for
the classes. Those that could not engage in online classes were not able
to learn and they lag behind in their studies and academic programme.
This study seeks to investigate into the impact of Coronavirus on
private school owner, economy, teachers and students.
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ABSRACT - [ Total Page(s): 1 ]This study was carried out to examine impact of Coronavirus on private school owners, economy, teachers and students using selected private schools in Ifelodun Local Government Area, Osun State as case study. Specifically, the study aimed at Discovering if the covid-19 outbreak affected the income of private school owners, if the covid-19 outbreak stopped the monthly salaries of teachers, if covid-19 disrupted the academic programme of students, and the impact of covid-19 on Nigerian economy. Th ... Continue reading---
