Africa’s most populous country is facing slow growth due to a shrinking labor market, double-digit inflation, and growing insecurity. So far, the system has been funded primarily by donations from millions of people working in governments and large corporations. But there is an untapped opportunity in the informal sector, and to be profitable, a system that addresses the challenges related to healthcare pricing and reimbursement to hospitals and patients is needed, analysts say. I am adding.
Lack of access to quality healthcare undermines the quality of life of Nigerians and their ability to escape extreme poverty. The fact that successive governments have consistently allocated less than 10% of their budgets to healthcare means that the country’s chronic healthcare underfunding accounts for less than 15% of the national budget devoted to healthcare, indicating that they are at the heart of the challenges facing the sector.
According to the latest World Health Organization statistics for 2019, 71% of healthcare costs in Nigeria are out-of-pocket. This indicates that the majority of Nigerians do not have health insurance and the poorest Nigerians have little chance of receiving quality healthcare. In the pre-Parliamentary 2023 Appropriations Bill, a total of N1.17 trillion will be made available by the executive branch for the health sector. This allocation is well below the 15% of the 13% recommended by the World Health Organization and the African Union in his 2001 Abuja Declaration, but lawmakers have not manipulated the allocation. There is nothing to suggest. Critical sector planning is pointless. It’s been that pattern every year.
Source: Healthcare Press (healthcarepress.net)
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