THE GLOBAL POLITICAL ECONOMY OF COVID-19: THE THIRD WORLD PERSPECTIVE; A STUDY OF NIGERIA

FRANCIS CALLISTUS AZUBUIKE
DEPARTMENT OF POLITICAL SCIENCE
NNAMDI AZIKIWE UNIVERSITY, AWKA. ANAMBRA STATE-NIGERIA
cf.azubuike@unizik.edu.ng

EMEKA VINCENT EZEANYA
DEPARTMENT OF POLITICAL SCIENCE
NNAMDI AZIKIWE UNIVERSITY, AWKA. ANAMBRA STATE-NIGERIA
ev.ezeanya@unizik.edu.ng

ABSTRACT

This study explores the global political economy of COVID-19 from a third world perspective, with a focus on Nigeria. The COVID-19 pandemic has had significant social and economic impacts on countries around the world, particularly in the Global South. The work examines the political cum economic implications of the pandemic COVID-19, especially how it impacted on the third World Countries looking at their socio-political cum economic realities. To achieve this, we interrogated the economic implications of Covid-19 on Third World countries especially Nigeria, and the long-term implications of the Covid-19 pandemic on Nigeria’s economic and political development, as well as what policies can be implemented to mitigate these effects? To provide answers to these research questions, secondary data collection was employed, materials used were gathered from documented evidence, and descriptive and qualitative data analysis was employed. The theoretical framework of Global Political Economy, which combines Critical International Political Economy and Postcolonial Theory, was used to analyse the work. This is because GPE and Postcolonial Theory provided a comprehensive framework to understanding the complex interplay between economic and political factors in shaping global inequalities and power relations, while also highlighting the importance of historical power relations in shaping contemporary global politics. We found out among other things that COVID-19 caused a great disruption in the global economic, social and educational sectors, causing job losses and increased poverty levels; it also caused millions of deaths globally. Improve Healthcare Infrastructure and manpower, collaboration with international organizations such as the WHO and UN for technical and financial and business assistance to the citizens were recommended as ways to cushion the impacts of COVID-19 in Nigeria.

Key Words: COVID-19, Political Economy, Third World Countries, Post Colonial Theory, WHO.