ABSTRACT
Economic shocks continue to threaten the sustenance of households in Sub-Saharan Africa (SSA), and various policies have been targeted to address the effects of economic shocks on households. However, households are faced with different types of shocks, and it is important to explore the combined effects of these shocks to understand the shock that poses the largest threat to household sustenance. Hence, we explore the effects of agricultural, financial, weather, health, and other shocks on Nigerian household welfare. We employ the World Bank’s Living Standard Measurement Survey (LSMS) for Nigeria and use pooled ordinary least squares (OLS) and random effect models to understand this relationship. We find that agricultural and weather shocks negatively affect household welfare status. We, therefore, recommend that policies should be specifically targeted at mitigating the effects of these two shock categories.
