The Impacts of COVID-19 on Kam Holding Group in Ilorin, 2020-2021

Abstract

The paper examines the impacts of COVID-19 on Kam Holding Company Limited, Ilorin. The outbreak of COVID -19 began in Wuhan, a city in the Hubei province of China. The World Health Organization reported the first case of coronavirus on 31^st December 2019. This virus is common in an animal like cattle and camels, but in animals to humans is rare. However, the report of coronavirus to humans was traceable to bats while some suggested pangolins. The report was unclear on how it spread to humans. In Nigeria, COVID-19 was confirmed on 27th February 2020. The objective of the study is to examine the impacts of coronavirus on Kam Holding Group Ilorin, Kwara State as a case study of analysis. The theory employed in this study is Human Capital Theory; this theory is very relevant to the development life of many countries, especially in the 1970s which depend on the quality of human resources. The methodology of the study relied on both the primary and secondary sources of data. The primary data relied on key informant interviews and questionnaires. The questionnaire is carried out among 100 respondents, 30 of the respondents are administrative officials while 70 of the respondents are factory workers.  The secondary data relied on newspapers, magazines, journals, texts and articles. The study identifies COVID-19 as a great challenge to the economic security and survival of the employees in Kam Holding Group, which resulted in unemployment. This has increased the unemployment statistics in Kwara State and Nigeria at large.  Kam Holding Group has not been able to get out of economic depression since 2020 to date due to the low demand for its products caused by the coronavirus pandemic. The study recommended solutions to the existing problem and measures to curtail in a case of re-occurrence of a sudden pandemic phenomenon on the livelihood of the citizens. One of the prime recommendations is that citizens should be diversified in their skilful capacity to meet the wing of unknown economic depression in emerging situations.