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From the production of food items, textile, health and medical consumables, beauty and fashion, technology equipment, luxury and other necessary goods or utilities required for daily life, global supply chains have been impacted by the unprecedented disruption occasioned by the outbreak leading to acute shortage, hoarding, price hikes, and even competition practices with attending impact on the economy of many nations.
Globally, the FMCG and manufacturing industry remain some of the worst hit by the Covid-19 pandemic.
From the production of food items, textile, health and medical consumables, beauty and fashion, technology equipment, luxury and other necessary goods or utilities required for daily life, global supply chains have been impacted by the unprecedented disruption occasioned by the outbreak leading to acute shortage, hoarding, price hikes, and even competition practices with attending impact on the economy of many nations.
The economic impact was aggravated by the closure of businesses, import and export restrictions, restriction on human and vehicular movements, closure of airports, rail stations, markets, malls and other forms of mass social gatherings, forex restrictions and many others as at the date of this Article.
In Nigeria, the Federal Government and other industry regulators and stakeholders have introduced or agreed on some control measures to ensure the continuous production or importation, distribution and transportation of goods and commodities across the country, during the lockdown and going forward in a bid to ensure availability of goods and price stability within the market. This article examines the response of industry
stakeholders to the challenges of Covid-19 pandemic with insights on strategies for businesses to maintain operations within the period.
Important Notice: The information contained in this Article is intended for general information purposes only and does not create a lawyer-client relationship. It is not intended as legal advice from Jackson, Etti, & Edu (JEE) or the individual author(s), nor intended as a substitute for legal advice on any specific subject matter. Detailed legal counsel should be sought prior to undertaking any legal matter. The information contained in this Article is current to the last update and may change. Last Update: October 1, 2024.
