How COVID-19 pandemic created surge in business opportunities – Experts

Medical experts said on Thursday said the coronavirus (COVID-19) pandemic led to a surge in business opportunities in the medical field.

How COVID-19 pandemic created surge in business opportunities – Experts.

The experts said this at the Nigerian-American Chamber of Commerce (NACC) December breakfast meeting themed: “Looking Forward: Economic Growth Opportunities in a Post- COVID World,” in Lagos.

Mr Kenneth Okolie, Managing Director, Synlab Nigeria Ltd., said the number of laboratories testing for Polymerase Chain Reaction (PCR) increased by about 60 per cent in the country.

He said prior to the pandemic, samples for those tests were flown abroad, a development which led to loss of tangible foreign exchange and underutilisation of laboratory manpower.

Okolie said 15 months after, COVID-19 had led to an increase in demand in health, technology, trade and other sectors, leading to increase in economic growth due to investments in those sectors.

He charged Nigerian businesses to be abreast of existing and new opportunities constantly thrown up by the pandemic and its mutating variants to meet up with demand.

“Economic growth is driven by two main factors; demand and supply, and the pandemic has led to an increase in demand across sectors particularly as economies are reopening globally.

“Now is the time to innovate from the lifestyle and behavioral changes from the new kinds of demands from COVID-19, and you must recognise the trends and dive into the opportunities therein.

“You must also organise yourself to pay attention to trends, changes in policies that climate change and others have thrown up,” he said.

Okolie urged Nigerians to embrace pharmacogenetics, a medical procedure that allowed investigation of genetic profile on drug compatibility.

This, he said, would enable doctors optimise and personalise medications for effective treatment.

Dr Ola Brown-Orekunrin, Managing Director, Flying Doctors Nigeria, predicted that in 2023, the Nigerian economy would grow moderately due to high oil prices in spite of the world deviating from oil.

Brown-Orekunrin added that the COVID-19 pandemic would become prevalent with increase in PCR testing across the world.

“There is also going to be stability or increase in dollar rate, and so I will advise people to look at investments in companies that generate dollars or have some products that deal with dollars.

“We would also see more people using crypto currency across the world and technology in Nigeria would boom and so there are more opportunities for those interested in the digital space,” she said.

Dame Adebola Williams, National President, NACC, noted that global economies had changed since the outbreak of COVID-19, presenting numerous opportunities and threats.

She charged businesses to take advantage of the opportunities created by the pandemic to stay relevant, sustainable and contribute their quota to economic growth and development.

“The world as we know it is fast fading away as what we have now is the new normal.

“Businesses must note these opportunities and leverage on technology to remain profitable,” she said.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Nigeria 3-1 Sudan: 3 worrying signs for the Super Eagles despite comfortable win

Nigeria 3-1 Sudan: 3 worrying signs for the Super Eagles despite comfortable win

Asmat tribe: The cannibalistic people who use human skulls as pillows

Asmat tribe: The cannibalistic people who use human skulls as pillows

Babangida opens up on why he didn’t remarry since his wife’s death

Babangida opens up on why he didn’t remarry since his wife’s death

'Kogbagidi dey always f*** up' - Portable says, as he splits from benefactor

'Kogbagidi dey always f*** up' - Portable says, as he splits from benefactor

Parallel Universe: Kylian Mbappe, Bukayo Saka among 10 Stars that could be playing at the AFCON

Parallel Universe: Kylian Mbappe, Bukayo Saka among 10 Stars that could be playing at the AFCON

Dr Dre to pay to ex-wife Nicole Young N57B in divorce settlement

Dr Dre to pay to ex-wife Nicole Young N57B in divorce settlement

Burna Boy quashes beef with Davido

Burna Boy quashes beef with Davido

'Shut up your mouth' - Eedris Abdulkareem drags Charly Boy over 2004 incident with 50 Cent

'Shut up your mouth' - Eedris Abdulkareem drags Charly Boy over 2004 incident with 50 Cent

AFCON 2021: 5 things about first Female referee Salima Mukansanga

AFCON 2021: 5 things about first Female referee Salima Mukansanga