Nigeria Scales Financial Inclusion: Lessons for Health Solutions

Nigeria has achieved substantial progress in expanding financial inclusion over the past decade, according to recent data. Formal financial inclusion, which measures the percentage of adults with access to formal financial services, grew from 36% in 2010 to an impressive 64% by 2023. This surge indicates a significant shift towards greater economic participation for a larger segment of the population.

Parallel to the growth in overall financial inclusion, access to digital payment systems has also seen remarkable expansion. The proportion of Nigerians using digital payments more than doubled during the same period, increasing from 22% in 2010 to 52% in 2023. This trend highlights the increasing adoption and reliance on digital financial tools across the country.

These advancements in financial inclusion provide a valuable framework for addressing challenges in other critical sectors, particularly healthcare. The author, Olu Akanmu, suggests that the strategies and lessons learned from scaling financial solutions can be effectively applied to achieve systemic impact in health systems. The article aims to explore these transferable insights, drawing parallels between the successful expansion of financial services and the potential for similar breakthroughs in healthcare delivery and accessibility.