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๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria /Economy & Trade

West Africa Healthcare Investment Momentum Builds as WHX Returns to Nigeria

From ThisDay · (7m ago) English Positive tone

Translated from English, summarized and contextualized by DistantNews.

TLDR

  • Nigeria's healthcare sector is projected to grow 7.1% by 2027, driven by significant investment and increased imports under the AfCFTA.
  • Despite progress, high out-of-pocket expenses present opportunities for private sector innovation and investment in Nigeria and other West African nations.
  • The West Africa Healthcare Investment (WHX) forum in Nigeria aims to foster market access dialogue, promote regional trade, and support the development of accessible, high-quality healthcare systems.

Nigeria's healthcare sector is on a remarkable trajectory, attracting substantial investment and poised for significant expansion. The upcoming West Africa Healthcare Investment (WHX) forum in Nigeria underscores this momentum, serving as a crucial platform for stakeholders to discuss market access, policy, and the integration of diagnostics, digital infrastructure, and human capital. This event is particularly vital for aligning national health goals with regional trade opportunities under the African Continental Free Trade Area (AfCFTA).

The nation's healthcare market is forecasted to reach $161.7 million by 2027, fueled by a $1.2 billion investment in infrastructure and workforce. This growth is further bolstered by expansions in oncology and diagnostics, alongside increased imports facilitated by the AfCFTA. While the challenges of out-of-pocket expenses persist for a majority of Nigerians, these very challenges highlight the immense potential for private sector innovation and investment to create more accessible and affordable healthcare solutions.

As partners with WHX, we are excited to drive market access dialogue that aligns with national health goals and promotes regional trade.

โ€” Njide NdiliPresident, Healthcare Federation of Nigeria, highlighting the forum's role in aligning with national health goals and promoting regional trade.

As a leading voice in West Africa's medical device sector, Nigeria's market is set to surge significantly by 2030. This progress is mirrored across the region, with countries like Ivory Coast, Cameroon, Senegal, and Ghana also modernizing hospitals, expanding digital diagnostics, and striving for universal health coverage. The WHX forum, in partnership with the Healthcare Federation of Nigeria, is instrumental in this transformation, emphasizing leadership development and the practical deployment of proven solutions to scale healthcare capabilities across the continent.

From our perspective at ThisDay, the focus on transforming healthcare from mere 'care' to 'capability' is paramount. The emphasis on leadership development and replicating successful models across all system levels is key. WHX's role in connecting stakeholders and showcasing best practices is invaluable. This event is not just about market access; it's about building resilient, self-sufficient health systems for Nigeria and Africa, a narrative often underappreciated in international coverage that tends to focus solely on challenges rather than the robust solutions being developed and implemented locally.

Leadership lies at the heart of healthcare transformation. The shift from care to capability is key to the long-term success of healthcare institutions, with leadership development at its core. But to truly transform healthcare in Nigeria and across Africa, these efforts need to be scaled and replicated across all levels of the system and WHX is designed to make that possible by connecting stakeholders, surfacing bestโ€‘practice models, and supporting the practical deployment of proven solutions.

โ€” Njide NdiliPresident, Healthcare Federation of Nigeria, emphasizing the importance of leadership and scalable solutions for healthcare transformation.
DistantNews Editorial

Originally published by ThisDay in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.