Economic reforms, inflation pose challenges to Nigeria’s health sector – Experts

Oct. 11, 2024 - Nairametrics

Economic reforms and rising inflation are exerting considerable pressure on Nigeria’s healthcare sector, prompting experts to advocate for new business models to ensure the industry’s long-term sustainability. He highlighted inflation as a pressing issue, particularly its disproportionate effect on consumer prices compared to factory gate prices.

“While factory gate prices are rising at roughly 13%, consumer prices are increasing at over 30%,” he explained, attributing this spike to rising logistics costs and market inefficiencies. Meanwhile, Ugodre Obi-Chukwu, CEO of Nairametrics, also expressed concerns about the healthcare sector’s representation in Nigeria’s broader economy.

“It’s interesting that the healthcare sector has grown every quarter since 2020,” he noted...