Challenges in the Nigerian Health Sector

In 2023, Nigeria experienced unprecedented economic and health crises, with significant implications for the healthcare and pharmaceutical sectors, as well as the broader economy. These crises included skyrocketing drug costs, a need for diversification away from reliance on crude oil, and an exodus of healthcare professionals. Additionally, the year saw the scarcity of Nigeria's currency, which led to a surge in fintech app usage. The health sector saw a large increase in budget allocation, though it still falls short of the Abuja Declaration's recommendation. The year was also marked by the closure of businesses and scaled-back operations of major companies, indicating the widespread impact of harsh economic conditions.