International Journal of Trend in Scientific Research and Development (IJTSRD)

Volume 5 Issue 4, May-June 2021 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

Economic Impact of Covid-19 Pandemic on the

Management of Small Scale Business in Nigeria
(A Case Study of Africana Restaurant, Otefe-Oghara)
Lawal M. Broghoma1, Magini Gideon2
1Department of Business Administration, Delta State Polytechnic, Otefe-Oghara Delta State, Nigeria
2Department of Business Administration, School of Business Studies,

Delta State Polytechnic, Otefe-Oghara, Nigeria

ABSTRACT How to cite this paper: Lawal M.

The study examines the effect of covid-19 on the performance of small scale Broghoma | Magini Gideon "Economic
enterprises in Nigeria. Notably, the outbreak of the highly infectious disease in Impact of Covid-19 Pandemic on the
December 2019 disrupted economic activities as movements were restricted Management of Small Scale Business in
and businesses shut down. As a result many businesses could not survive the Nigeria (A Case Study of Africana
onslaught due to declining demand, decreasing revenue and falling profit. This Restaurant, Otefe-
resulted in high unemployment and poverty. The study employs the chi square Oghara)" Published
statistics to examine the contemporaneous dynamics between covid-19 and in International
operations of SMEs in Nigeria. The study finds that covid-19 severely affected Journal of Trend in
the growth of SMEs in Nigeria during the pandemic era. It is therefore Scientific Research
recommended by the study that the successful containment of the problems and Development
occasioned by covid-19 will require a combination of both micro and macro (ijtsrd), ISSN: 2456- IJTSRD43657
policies. Thus, given the strategic position occupied by small and medium 6470, Volume-5 |
scale enterprise, government may consider measures aimed at supporting Issue-4, June 2021, pp.1475-1480, URL:
them. Alternatively, a wide array of measures should be introduced to mitigate www.ijtsrd.com/papers/ijtsrd43657.pdf
the economic impact of the coronavirus outbreak on businesses.
Copyright © 2021 by author (s) and
KEYWORDS: Economic Performance, Coronavirus disease, Small Scale Business International Journal of Trend in Scientific
Enterprises, Chi Square. Research and Development Journal. This
is an Open Access article distributed
JEL Classification: I15, L25, O43 under the terms of
the Creative
Commons Attribution
License (CC BY 4.0)
(http: //creativecommons.org/licenses/by/4.0)

1. INTRODUCTION
The outbreak of coronavirus disease (covid-19) severely in Africa and Latin America. With the largest population in
affected the global and the local economy particularly the sub-Sahara Africa (SSA), and long-standing travel and trade
small and medium scale enterprises (SMEs). It is a novel links within Africa and to the rest of the world, it seemed
disease pandemic that emerged in Wuhan, Hubei province in inevitable that the pandemic would eventually reach Nigeria.
China in December, 2019. According to Madubuike, Ishmael, In late February, 2020, Nigeria recorded the subcontinent’s
Obichukwu, Chinwe & James (2020), covid-19 symbolizes first confirmed case, after which it began to spread
viral pneumonia with associated symptoms of dry cough, throughout Lagos, Ogun State, and the Federal Capital
fever, sore throat, body pain and diarrhea. The authors argue Authority (FCT) Abuja (Onyekwena & Amara, 2020).
that individuals from poor socioeconomic backgrounds
Nigeria has been severely hit by the spread of coronavirus
where the health system is vulnerable are likely to face a
disease. Accordingly, government policy was to enforce
higher risk since covid-19 spread at a faster rate.
social distancing. Thus, all schools were closed by mid-March
Accordingly, the majority of countries in sub-Saharan Africa
2020, and several states and local authorities instituted bans
(SSA) are faced with prolonged health system vulnerabilities
on public and social gatherings. After a second case was
due to civil wars, post-military autocratic delayed reforms,
reported in Lagos, the government banned foreign travelers
corruption and the emigration of physicians/health workers
from 13 “highly-infected” countries and stopped issuing
and other skilled professionals (Madubuike et al., 2020). The
visas on arrival. With 44 confirmed cases as at end of March,
covid-19 pandemic led to a global health emergency as well
the government closed its land and air borders to all
as economic slowdown on investment, employment, trade
travelers for an initial period of 4 weeks, and suspended all
and economic growth all of which are adversely affected, a
passenger rail services (Onyekwena & Amara, 2020). A range
development which is bound to negate the achievement of a
of measures were implemented to contain the spread of the
country’s financial goals (Adekoya & Aibanagbee, 2020). In
deadly virus. Notably, President Buhari announced
the afarmart of the outbreak of the disease, it began to
“lockdown” measures to restrict the movement of residents
spread through East Asia, Europe and North America in early
outside of their homes and virtually all business operations
2020. Thereafter, the novel virus started affecting countries
including SMEs were closed down as well as closure of public

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 International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
and private schools, universities, stores and markets as well sector in Nigeria. Even though there were criminal activities
as suspension of public gatherings including religious and such as kidnapping in Nigeria prior to the outbreak of the
sporting events. Work at home was encouraged in several deadly disease and the attendant lockdowns that follow
states and government institutions. By the end of April, which led to the collapse of several businesses including
2020, the group of states under lockdown measures SMEs around the world, armed robbery, banditry especially
accounted for almost two-thirds of the national economy. kidnappings for ransoms have only taken a very dangerous
Shortly afterwards the government issued exemptions for dimension in Nigeria. The stay-at-home rules aimed at
medical services, agricultural activities, food manufacturers containing the pandemic meant that the non-essential goods
and retailers, telecommunications and certain financial were less demanded. More worrisome was the government
services. Later, the president announced some palliative inability to provide cushions by way of interest free loans or
measures, mainly food distribution and a 2-month advance outright disbursement of funds to the small business
payment of the conditional cash transfers made by the concern. This further spelt doom for the SMEs in Nigeria.
government to vulnerable citizens. Although, the restrictions
Objective of the Study
were later relaxed by the government in September, 2020,
To determine the effect of covid-19 on small scale business.
economic activities especially SMEs did not operate at full
capacity. This was mainly due to the fact that a Research Questions
comprehensive list of restrictions remains in place, including Does covid-19 affects small scale business in Nigeria?
night time curfew, ban on non-essential inter-state
Hypothesis Formulation
passenger travels, partial and controlled interstate
The study shall test one hypotheses in null form.
movement of goods and services, and mandatory use of face
masks or coverings in public even as clubs and bars Ho: There is no significant effect of covid-19 on small scale
remained closed. business in Nigeria.
As restrictions on movement increased, stakeholders Significance of the Study
became increasingly apprehensive about the consequences The paper is relevance to manager of the Nigerian economy
for SMEs in Nigeria. In what later became clearer, as the especially those making policy for the survival of SMEs in
government response to corona virus heighten, SMEs in Nigeria. This is anchored on the findings of the study which
Nigeria began to face difficulties in their operations due shed light on both the financial fragility of many small
mainly to high costs of production and distribution thereby businesses. More important is the significant effect covid-19
affecting the supply chain. The sudden onset of the pandemic had on businesses operating in Nigeria in the wake of the
and the scale of policy responses imposed significant pandemic that disrupted virtually all businesses. Also, the
economic costs on Nigeria’s population, but the nature of the study is significant as findings provide evidence of business
impacts on small and medium scale enterprises remain expectations on the longer term impact of covid-19 as well
unclear. It is against this background that the study is as their perceptions of relief programs offered by the
germane. The rest of the paper is organized as follows. government.
Section two presents relevant literature whilst method of
2. Review of Related Literature
study is presented in section three. In section four, results of
As covid-19 is a new disease, literature on the subject is
findings are presented. Finally, section five concludes the
relatively sparse. The coronavirus disease otherwise known
paper with policy remarks.
as covid-19 pandemic initially emerged in the Wuhan
Statement of the Problem province of China in December 2019 (Adenomon, Maisamaa
At the pick of the novel virus in July 2020, people were afraid & John, 2020). Thereafter, it spilled over to other continents
to come out for any form of business activities for fear of of the World recording a very high level of casualties on each
contracting the deadly virus. This was compounded by the passing day. The virus was declared a global pandemic by
WHO guidelines regarding the application of social World Health Organisation (WHO) 0n 11 March, 2020. .In
distancing, personal hygiene, especially hand hygiene and Africa, Egypt recorded the first index case on 15th February
mask-wearing, aimed at reducing the spread of the novel 2020 (Medical Express News, 2020). The initial occurrence
disease. Thus, the corona virus pandemic had debilitating of the highly infectious disease was referred to as the first
effects on SMEs operating in Nigeria’s food industry. As the wave and almost all countries in the world have experienced
enforced restrictions roll on, the medium to long term the first and the second waves. Essentially, some countries in
impact on SMEs was worrisome most especially as SMEs Europe like France, Germany and Britain are currently
produce, process, market, transport and sell the food entering their third wave. Accordingly, lockdowns are
products and associated services depended upon by many underway. However, in Africa in general and Nigeria in
people in Nigeria. By far the most explicit impacts are hike in particular, the rate of infectious has drastically drop. At the
prices predicated on food shortages for consumers who rely time of conducting this study the number of global
on SMEs. Notably, bankruptcies and unemployment became confirmed cases reported in WHO dashboard as at 06 April
rampant as most businesses including restaurants were shut 2021 have risen to 131, 487,572 with over 2.8 million death
down and only take away meals were permitted. This was in 223 countries, areas or territories. Similarly, the number
not surprising as most small scale industries decreased work of confirmed cases in Nigeria in the same period stood at
hours with attendant salaries cut occasioned by skeletal 163,388 while 2058 people have died from the novel disease.
services. As would be expected, this led to reduction of The United Nation Development Programme (UNDP) has
workforce thereby leading to increase in unemployment and described covid-19 as the worst global health tragedy of our
poverty. Essentially, the increase in criminality in recent time since World War 2 (UNDP, 2020). On its part, the
time ranging from armed robbing to kidnapping, internet Organization for Economic Co-operation and Development
frauds and a host of others can be partly attributed to the (OECD) in June 2020, noted that covid-19 is a global health
negative effect of covid-19 on the small and medium scale crisis without precedent in history (OECD Economic Outlook,

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 International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
2020). It is on this note that the International Labour Economic Role of Small Scale Enterprises in Nigeria
Organization (ILO) estimated that about 195 million jobs Several economic development advocates have come to
would have been lost during the period. Similarly, the World realize the significant role of small scale enterprises. They
Bank projected an annual decline of US$110 billion in are viewed to be characterized by dynamism, witty,
remittances which indicated that about 800 million people innovations, effectiveness and the relative small size allows
would have been cut-off from their basic needs. It may for faster decision making process in conducting business
therefore not be out of place to infer that the trend which activities. Governments globally have realized the
culminated in total lockdown in many countries, resulted in significance of this category of enterprises and have initiated
high mortality rate, acute malnutrition, gross inequality as cumulative public policies to encourage and fund the
well as erosion of confidence in the ruling elites. establishment of small scale enterprises. This is why
Anthony (2020) argues that small business enterprises are
From the empirical corridor, Shafi, Liu and Ren (2020) argue
becoming increasingly evident through a robust economy
that the global disease severely affected Pakistani economy
and the mobilization of local resource revolution, reduction
in a manner that micro, small, and medium-sized enterprises
in rural urban migration, uses of industries disposal and
were struggling to survive. The study utilizes data from 184
creation of employment opportunities which can be
Pakistani SMEs and thereby administered an online
achieved by a conscious and systematic policy of
questionnaire. Descriptively, the study finds that SMEs in
development of small and medium enterprises. Small scale
Pakistan suffer severely as their finances shrink, supply
businesses are initially formed in traditional settings such as
chain disruption, decline in demand, reduction in sales and
haircut and weaving. They help in maintaining
revenue shortfalls. In Saudi Arabia, Tanveer, Hassan and
craftsmanship, generating employment, maximize waste by
Bhaumik (2020) examine to what extent covid-19 pandemic
using scrap materials from large firms as well as enhances
and quarantine affected the sustainability of business
economic sub-contracting.
activities and consumer behavior. Applying KMO test on
questionnaires generated through email and social media, Covid-19 Pandemic and Economic Performance in
the study finds that customer behavior was poor as to Nigeria
guarantee the sustainability of business development. The Economics around the world are fighting the effects of the
study argues that consumers were kept at home thereby covid-19 pandemic. As with most economic around the
making patronage of online purchases and home delivery. world, the sharp drop in Nigeria’s GDP growth is largely due
to the slowdown in economic activity after the country
Back home in Nigeria, Eromafuru (2020) avers that despite resorted to a lockdown in order to curb the spread of the
the enormous billions of dollars expended on procuring virus. In the wake of the pandemic the World Bank
treatment aimed at controlling the disease, very little effort forecasted a decline of -3.2% for 2020 – a 5% point drop
was made to curtail the number of causalities from the from its previous projections. While the lockdown has since
deadly spiral. His study assesses the impact of coronavirus been eased in the wake of “heavy economic costs”, the
pandemic on the socio-cultural and socio-economic continued rise in cases – especially in Lagos, Nigeria’s
performance of SMEs in Nigeria. A sample of 350 of all economic hub-meant that the local economy is yet to full re-
registered SMEs in manufacturing and service sectors was open. Anecdotal evidence suggests that some small
used for the study. The study finds that positive relationship businesses closed because of changes in customer behavior,
exists between covid-19 pandemic and economic benefits in especially the physical distancing and mandated operational
the private sector whilst negative correlation was observed restrictions that began during the pandemic. Such
between the virus disease and traditional lifestyles. Also, the businesses include food and educational services that were
study finds that a negative relationship between covid-19 severely affected.
pandemic and the people living standards. Finally, it was also
observed by the study that a positive relationship exists 3. RESARCH METHODOLOGY
between covid-19 disease and the level of uncertainties in As the study is focused on the food restaurant business, the
the life of the people in the period under review. The study research design encompasses ex post factor, questionnaire,
uses the Cochran’s formula (1997) with questionnaires interview and the chi square analytical tool.
sourced on cross sectional research approach and Population, Sample and Sample Size
multivariate regression model to explore the The population of the study include all staff Africana
contemporaneous dynamics. Oyewale, Adebayo and Kehinde Restaurant, Otefe, Oghara estimated to be about fifty five
(2020) explore the effect of covid-19 pandemic disruption in (55) employees of both male and female staff. The study
economic activities on the performance of small and medium adopts the simple random sampling technique which enable
scale enterprise in Nigeria. The study uses electronic all staff to be selected at random. Accordingly, the Taro
approach in data collection and undertook the analysis Yamen formula is utilized for the sample size as follows:
through the method of linear probability. In addition, a
n= N
multivariate probit model was also employed. It was 1+N(e)2
discovered by the study that a number of entrepreneurs
were severely affected by the covid-19 pandemics and the Where,
attendant lockdown and movement restrictions imposed by n= Sample size
the government. Finally, the study also finds that effect of N= Population
covid-19 virus differs on sectors (agriculture versus non- e= Margin of error 5% or 0.05
agriculture). For instance, the study reveals that partial 1= Constant
lockdown measures had an increasing likelihood effect on n= 55
low sales on non-agricultural sector whilst food and 1+55(0.05)2
agriculture sector experience an opposite effect.
n= 1.138
n= 50

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 International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
Method of Data Collection and Analysis Table 4: Years of Service in Africana Kitchen
The data were both primary and secondary sources collected Restaurant.
through questionnaires and personal interview whilst text Number of Percentage
Option
books and journals. Accordingly, the chi-square technique respondents (%)
was employed on the data. The formula for chi-square is 0-2 years 10 20
denoted as follows; 3-6 years 34 68
X2 = ∑ (Fo – Fe)2 7 years and above 6 12
Fe Total 50 100

Where, As Table 4 reveals, 10 and 34 respondents each representing

Fo = Frequency observed 20% and 68% respectively are 0-2 years and 3-6years while
Fe = Frequency expected the remaining 6 respondents representing 12% are 7 years
and above.
Decision Rule
If the Chi Square (X2) calculated is greater than Chi Square Table 5: Staff Position
(X2) Table we reject the null hypothesis and accept the Number of Percentage
Option
alternative hypothesis and conclude that relationship exists respondents (%)
between the variables under consideration Junior staff 37 74
Senior staff 13 26
4. Data Presentation Total 50 100
A total of 50 questionnaire were distributed to the
respondents which were fully completely and returned. Table 5 shows that 37 respondents representing 74% are
junior staff while 13 respondents or 26% are senior staff.
Data Analysis
The responses to questionnaire in the question are analyzed Question 1
using percentage. Table 6: Does Covid-19 affects small scale business?
Percentage
Table 1: Sex Distribution of Respondents Response Number of respondents
(%)
Sex Number of respondents Percentage (%)
Yes 30 60
Male 29 58
No 20 40
Female 21 42
Total 50 100
Total 50 100
It can be observed in Table 6 that 30 respondents
Table 1 reveals that 29 respondents representing 58% are
representing 60% affirmed yes response that corona virus
male while 21 respondents or 42% are female.
affects small scale business while 20 respondents
Table 2: Age Distribution of Respondents representing 40% said no.
Number of Percentage Question 2
Age
respondents (%) Table 7: Does Covid-19 affect the economic growth?
Below 20 10 20 Percentage
21 – 30 years 10 20 Response Number of respondents
(%)
31 – 40 years 6 4 Yes 7 14
41 – 50 years 14 40 No 43 86
51 – 60 years 5 8 Total 50 100
Above 60 5 8
Total 50 100 Table 7 depicts the responses of 7(14%) respondents who
said yes that covid-19 affected the economic growth while
Table 2 shows that 10 respondents representing 20% are 43 respondents representing 86% responded in the
below 20 years while 10(20%) respondents falls between contrary.
21-30 years. The Table further shows that 6, 14 and 5
respondents representing 4%, 40% and 8% respectively are Question 3
of the brackets 31-40, 41-50 and 51-60 years. Finally those Table 8: Does Covid-19 affect free flow of goods and
above 60 represents 8% of the population or 5 respondents. services of small scale business?
Percentage
Table 3: Academic Qualification of Respondents Response Number of respondents
(%)
Number of Percentage Yes 35 70
Qualification
respondents (%) No 8 16
WAEC 32 64 Undecided 7 14
OND 18 36 Total 50 100
HND/BSC Nill Nill
MSC/MBA Nill Nill As can be seen in Table 8, 35 respondents representing 70%
Total 50 100 said agree that covid-19 affected the free flow of goods and
services of small scale business while 16% disagree. The
Table 3 indicates that 32 respondents representing 64% are remaining 7 respondents representing 14% were undecided.
WAEC holders while 18 respondents or 36% are OND
holders. Testing of Hypothesis
Ho : There is no significant relationship between effect of
covid-19 and small scale business.

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 International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
Chi-square = X2 = ∑(fo – fe)2 5. CONCLUDING REMARKS
Fe The study focuses on the effect of covid-19 on the
performance of small scale enterprises in Nigeria.
Where,
Observably, the outbreak of the highly infectious disease in
X2 = Chi-square
December 2019 disrupted economic activities as movements
Fo = Frequency observed
were restricted and businesses shut down. As a result many
Fe = Frequency expected
businesses could not survive the onslaught due to declining
Junior demand, falling revenue and decreasing profit. The results
Response Senior Total Percentage
senior was unemployment and poverty which further led to various
Yes 7 3 10 20 crimes with the most disturbing trend being banditry and
kidnappings as currently witnessed in Nigeria. The study
No 24 16 40 80 employs the chi square statistics to examine the
Total 31 19 50 100 contemporaneous dynamics between covid-19 and
operations of SMEs in Nigeria. The study finds that covid-19
To calculate the expected frequency (fe) using the formula, severely affected the growth of SMEs during the spike of the
pandemic era. The results gave credence to the findings of
Fe = Column total x Row total Oyewale et al., (2020) and Eromafuru (2020) in Nigeria as
Grand total well as Shafi et al., (2020) in Pakistan and Tanveer et al
For Junior Staff (2020) in Saudi Arabia. It is recommended therefore that the
Fe for 7 = 31 x 10 = 6.2 successful containment of the problems occasioned by covid-
50 19 will require a combination of both micro and macro
policies. Thus, given the strategic position occupied by small
Fe for 24 = 31 x 40 = 24.8 and medium scale enterprise, government should put
50 measures in place to support them. While the first concern is
For senior staff public health, a wide array of measures should be introduced
Fe for 7 = 19 x 10 = 3.8 to mitigate the economic impact of the coronavirus outbreak
50 on businesses. Specifically, government should urgently
deploy measures to support SMEs and the self-employed
Fe for 7 = 19 x 40 = 15.2 during this severely challenging time, with a strong focus on
50 initiatives to sustain short-term liquidity. For instance, the
Contingency Table interventionist policy of the Central Bank of Nigeria should
Option Junior staff Senior staff Total be holistic and sustained to support in lending by alleviating
monetary conditions and enabling commercial banks to
Fo Fe Fo Fe
provide more loans to SMEs.
Yes 7 6.2 3 3.8 10
REFERENCES
No 24 24.8 16 15.2 40
[1] Adekoya, O. & Aibanagbee, R. (2020). Covid-19
Total 31 19 50 economic downturn: The implication for corporate
debts and recovery actions in Nigeria. SSRN Electron.
X2 = ∑ (fo – fe)2
[2] Adenomon, M.O., Maisamaa, B., & John, D. O. (2020).
Fe
On the Effects of covid-19 outbreak on the Nigerian
For Junior Staff Stock Exchange Performance: Evidence from GARCH
X2 = (7 – 6.2)2 = 0.25 Models (preprint), Mathematics and Computer
6.2 Science.
X2 = (24 – 24.8)2 = 4.113 [3] Anthony, K. I. (2020). Covid-19 and the economy. An
24.8 African perspective.
X2 = (3 – 3.8)2 = 2.736 [4] Eromafuru, E.G. (2020). Covid-19 pandemic, the
3.8 ultimate time bomb? : Gauging the socio-cultural and
socio-economics impacts of the scourge on the
X2 = (16 – 15.2)2 = 5.078
Nigerian SMBEs. Academy of Strategic Management
15.2
Journal, 19(5): 01-18.
X2 = 0.25 + 4.113 + 2.736 + 5.078 = 11.677
[5] Madubuike U.A., Ishmael, J.F., Obichukwu, C.N.,
Calculated value = 11.677 Chinwe, J.I.J. & James, W.O. (2020). A perspective on
Nigeria’s preparedness, response and challenges to
Degree of freedom
mitigating the spread of COVID-19. Challenges,
Df = (2 – 1)(2 -1)
11(22): 1-15. DOI: 10.3390/challe11020022.
= (1)(1) = 1
[6] Oyewale, A., Adebayo, O. & Kehinde, O. (2020).
The X2 Table or level of significance 0.05(5%) is given as
Estimating the impact of COVID-19 on small and
3.840. Since X2 calculated (11.68) greater than X2 Table
medium scale enterprise: Evidence from Nigeria.
(3.84), we accept the alternative hypothesis in favour of the
International Institute of Tropical Agriculture (IITA),
null hypothesis and conclude that covid-19 affected the
Ibadan, 1-19. https://hdl.handle.net/10568/111225.
operations of SMEs in Nigeria during the spike of the
pandemic.

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[7] Onyekwena, C. & Amara, M.E. (2020). Understanding enterprises operating in Pakistan. Research in
the Impact of the COVID-19 Outbreak on the Nigerian Globalization, 2:100018.
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[9] Tanveer, M., Hassan, S. & Bhaumik, A. (2020). Covid-
focus/2020/04/08/understanding-the-impact-of-the-
19 quarantine and consumer behavior that change
covid-19-outbreak-on-the-nigerian-economy.
the trends of business sustainability and
[8] Shafi, M., Liu, J. & Ren, W. (2020). Impact of covid-19 development. Academy of Strategic Management
pandemic on micro, small and medium-sized Journal. 19(4): 01-11.

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