Undoubtedly, COVID-19 pandemic generated social and economic crisis all over the world with several job losses within few months, as a lot of people experienced disruptions in the normal routine of everyday life due to mandated lockdowns and social distancing. However, the effects vary from place to place. Consequently, this study investigated the socio-economic effects of COVID-19 pandemic among the inhabitants of Port Harcourt metropolis in Rivers State. Two research hypotheses were generated and tested. The descriptive survey design, multi-stage sampling technique and self-developed four-point Likert type of questionnaire were used. The population included all the inhabitants in Port Harcourt metropolis which consisted of market women, public and civil servants, with a sample size of 1,000 respondents. A reliability coefficient of 0.89 was obtained through the use of Crombach alpha. The descriptive statistics of simple percentages and the inferential statistics of chi-square, set at 0.05 Alpha level was used for data analysis. The findings revealed that economic insecurity and social breakdown were effects of COVID-19 pandemic among the inhabitants of Port Harcourt metropolis in Rivers State. Consequently, it was recommended that the local and state governments should always make adequate provision of social security and economic relief packages for emergency situations in order not to be caught unawares should such situation arise again in future.