The business sectors surrendered to an episode of ailment as new corona virus concerns forces countries around the world to a close down of public areas. Many would have thought that this would be a short term type of event, but with the recent updates, this could be a little bit more problematic down the road.
News of still more confirmed COVID-19 corona virus cases around the world are only fueling investors fears as the virus shows no signs of dissipating. And in Lagos, Nigeria a State described by BrinkNews in December 2019 as the largest economy in Africa, the State Government has announced a shut down of all markets and stores in the state except those selling essential commodities like foodstuffs, medical supplies, water and so on with effect from today. And with over 200 million people, it is the largest market in the continent, its population nearly twice the size of Ethiopia (110 million) or Egypt (102 million).
The shutdown has been predicted to have a negative effect on the economy of Africa and the world at large.