Cost Implications of the Prevalence of HIV/AIDS on the Economic Development of Nigeria

Abstract

HIV/AIDS emerged in the last three decades as visible threat to health and the socio-economic conditions of developing countries including Nigeria. Against this background, this study sought to determine the cost implications of the prevalence of HIV/AIDs on the economic development of Nigeria. The study adopted mainly qualitative approach sourced from National Bureau of Statistics-(NBS) and Central Bank of Nigeria-(CBN) statistical Bulletin respectively for analysis. Findings seem to support claims that the incidence of HIV/AIDS exert serious negative influences on the economic growth of Nigeria. This is due to the fact that HIV/AIDS reduces to a large extent the proportion of the working population with its huge corresponding cost implications, which in turn affect economic resources in the country. The policy interventions strategies recommended for stemming the scourge of HIV/AIDS include; prevention of new infections, cost reduction of treatments for patients, positive adjustments of patients to employment environment and development of activities like pycho-educational programme to motivate and foster HIV/AIDS prevention and management  behaviours among the Nigeria populace especially the youth.

Keywords: Cost, Economic Growth; Employment, HIV/AIDS, Productivity