Russia-Ukraine Conflict: Virtue Turns Bane for Nigeria’s Economic Trajectory
Following the adverse effects of the Covid-19 pandemic on aggregate macroeconomic variables, the global economy is yet threatened by another unpredictable course due to the Russia-Ukraine conflict. Tension has taken a toll even before the invasion of Ukraine by the Russian troops. However, the heightened economic and financial sanctions imposed on Russia and the potential retaliation by the Kremlin government remains a primary concern to the global economy, particularly by markets dependent on Russia and Ukraine economies. The crisis is likely to have direct and indirect implications on Nigeria’s economy.