A panel of Nigeria's healthcare operators, private equity investors and finance institutions including the IFC discussed opportunities for financing the sector in a recent panel discussion. This translates into the Average Doctor-Patient ratio of 1:5000 and Nurse-Patient ratio of 1:1166. WHO recommends one pharmacist per 2000 population; Nigeria has approximately one pharmacist per 12,000 of people. Primary Healthcare centers have also been established in rural communities in most Northern state of Nigeria. Nigeria has the third largest FDI stock in Africa, since the country remains Africa's largest producer of oil. The healthcare sector in the country is primarily made up of systems and companies specialized in the production and delivery of products and services that improve the well-being of the nation from pills and medication to hearing aids devices.. Leverage your professional network, and get hired. This low healthcare-to-GDP spend helps explain the prevalence of poor health outcomes in Nigeria. The advantage is that you dont need any licence to sell them, unlike drugs. These factors will directly impact healthcare allocations, consequently the quality of delivery and outcomes. There are zero tariffs on the imports of medical equipment, pharmaceutical manufacturing machinery and packaging materials. The federal government is responsible for tertiary care, which is mainly provided by university teaching hospitals and federal medical centres. Register with Secretary of State. Since real estate development is capital intensive and bank loans expensive, it is inevitable that developers would need external support to finance their projects. Land of opportunity for healthcare: Nigeria – Healthcare scenario Introduction: Nigeria is often referred to as the “Giant of Africa”, owing to its large population and economy. Most businesses survive on generators. Healthcare delivery has undergone tremendous transformation since Nigeria’s independence in 1960. Many have even predicted recessionary trends for Nigeria, if the present unsustainable slump in oil continues. Nigeria recently surpassed South Africa to become Africa’s largest economy, and the 21st largest in the world, following the release of Knoema’s World GDP Ranking 0f 2015. The scheme failed to put the necessary financing mechanism to cover the informal sector which constitutes 70% of Nigerians. There is limited source of funding for developers in Nigeria. Here, a veterinarian cares-for, … Another example is the three month long strike at Federal Medical Centre in Owerri against the privatization of some of the hospitals services. Healthcare management in Nigeria, and the rest of Africa hasn't been fully explored. No. Security situation in Nigeria remains tenuous. Similarly, National Health Institutions Standards Committee, which was also inaugurated alongside the Council on Health for the purpose of advising the Federal Health Minister on matters affecting the establishment of tertiary institutions, setting the minimum standards to be attained by the various tertiary healthcare facilities, inspecting the facilities, advising government on financial needs for training and research and monitoring the utilization of the funds made available, needs to wake up to its responsibilities. A major problem afflicting the healthcare system in Nigeria is the so-called “brain drain” of doctors and medical staff. Some of the prominent groups that are making healthcare forays into Nigeria are Abraaj Group (Dubai based), Manipal Hospital Group (India), Kent Hospital Group (Turkey) to name just a few. National Strategic Health Plan (NSHDP) was launched by the Federal Government from 2010-15 with a total estimated cost of $26.7 billion. Private providers of healthcare have a visible role to play in health care delivery. Another worrying problem area is the lack of technical expertise of the maintenance staff of some of the major medical devices/ equipment vendors in the country. The loss of notable industry events like Mobile World Congress, Facebook's F8 and the Adobe Summit can have significant costs for both conference hosts and the attendees—53% of US B2B marketers consider in-person events and trade shows an effective channel … Demand exists for diagnostic equipment such as Magnetic Resonance Imaging (MRI), Computed Tomography scan (CT), Digital X-Ray, Ultrasound, Mammography, ultrasound scans, as well as anesthesia equipment and mortuary tools. Clinic (Health Care Management) Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to … TEL No: 07090858575, 07090858202, 08034021430. This constitutes a 5.6% of the total budget allocation and a mere 2.6% of the GDP! PathCare Laboratories offers health care and medical services and is located in various areas in the Country. In 2014, some of the public sector hospitals have also been at the forefront of this malaise that threatens to paralyze the entire public sector. Although, the challenges are many, but if the prevailing trends are to be believed, Nigeria will continue to be an attractive destination for the healthcare providers in future. In a country of 175 million people, about 100 million are mired in poverty and 90% of the population still lives on $2 per day. NHS, for example, has more than 4000 doctors from Nigeria, US has even more numbers. A rapid diagnostic has revealed that the private sector is well positioned to unlock that potential and realize the synergies required for massive improvements in health outcomes. ... Scantrik... Smaart Health. Public health in Nigeria is run by three tiers of the government. You will also need to get some certifications … 8 Ormed Supreme Option 263 New Ogorode Road, Sapele, Delta State Nigeria 0806 053 8467, 0805 580 9703 According to industry analysts, European exporters dominate this market but Asian firms, led by China and India, are making significant inroads into Nigeria’s healthcare market. About 80% of the healthcare delivery is restricted to major cities & towns with very poor access in rural areas. I can't scream this enough. MedicRAM – Nigeria – Tosan Adams MedicRAM (Medical Records And Management) is an innovative modular health IT solution that is intended to transform the way healthcare is managed. But 10 years after the NHIS was launched in 2005 with much fanfare, there is little to celebrate. Corruption makes health policy, health initiatives, provision of care and international aid less effective, undermining reach and quality of healthcare delivery. The healthcare market here will continue to grow for the foreseeable future and the healthcare investments will continue to flow apace. IMF has slashed its 2015 growth forecast for Nigeria to 4.8%, from 7.3% last October. So, you may not need a lot of money to start this business. Most Primary Health Centres (PHCs) are poorly equipped. Agency (NPHCDA) State Ministries of Health (SMOHs), 37 Health Maintenance Organizations (HMOs) NGO’s & development partners Donors Ward Health Authorities 73% 14% 12% Unknown 1% Teaching hospitals District hospital, comprehensive health center and specialist and general hospitals Dispensary & health posts (30%), health Needless to say, the present dispensation has a job well cut out! However, experienced maintenance staff is still flown from outside the country to provide maintenance support & training for critical medical equipment. The public sector in Nigeria, inter alia, is ruled by ineffective civil service codes and weak accountability systems. Steps must be taken to ensure better accountability and reduce time for registrations and inspections. According to a report by Fitch Solutions, healthcare expenditure in Nigeria is predicted to reach NGN 5,762.061 billion by 2021 growing at a CAGR of 8.35% Y.O.Y. Finelib.com © 2016 - All Rights Reserved. The forecast for Q3 is mere 2.3%. People mainly rely on ambulatory care at these poorly organised PHCs, leaving them at the mercy of quacks and faith healers. Healthcare spending as a percentage of the GDP in Nigeria was 2.6% in 2014, while this figure is more than 17% for US, 10.6% for Germany and 4.5% globally. It is estimated that there are four doctors for every 10,000 inhabitants. Vision Drug Impex Services Nigeria Limited imports and retails original pharmaceuticals products from major pharmaceutical brands. This will have a positive impact on serviceability and consequent better sweating of the equipment in future, thus directly affecting profitability. Ormed Supreme Option manufacture and market natural medicines for sickle cell and enlarged prostate patients. The new government has just competed 100 days in office and its performance is being watched very closely by businesses worldwide. Register your business with Secretary of State in your state. The Federal government is responsible for coordinating affairs in Federal Medical Centers and University Teaching Hospitals. That’s a result of an increase in life expectancy, improved nutrition, sanitation, health care, and economic growth. However, if you still lack the required money to set up this business, you may have to look at a couple of directions. In most states of the federation, the proportion of states’ and LGAs’ budgets allocated to health remains below 15%. Those who are ready to exploit the opportunities that this sector affords, are likely to gain handsomely provided risks are well analysed and timely prudent mitigating actions taken. International Women’s Day: Saluting Our Women, Indian Medical Value Travel (MVT) Industry…. The budget was passed on the basis of crude oil sales at $53 per barrel, production estimate of 2.2782 million barrels per day, and an exchange rate of N190 to the dollar. According to the World Bank, Nigeria’s total health expenditure (both private and public healthcare spending) amounted to 3.6% of GDP in 2016, and below peers like Kenya (4.5%), South Africa (8.1%), and Brazil (11.7%). Hospital patients will spend less time in hospitals as a result of quicker and better access to their medical records and laboratory test. MBA Master PhD Law Bachelor Healthcare Courses Online For Institutions arrow_drop_down. Nigeria’s public health care system is overseen and managed at three distinct levels. This Aetna International guide will help you to familiarise yourself with public health services, standards of care and other useful information about health care in Africa. There is hardly any indigenous refining capability. Land acquisition in these cities is not a prerogative of the poor. In 2014 the federal health allocation out of the total federal budget of N 4,962 billion was N262.7 billion, out of which 216.4 billion (82%) was recurrent expenditure and the balance 46.3 billion (18%) was capital expenditure. Me Cure Healthcare provides a wide range of healthcare services in the areas of digital x-ray, pathology, dentistry, optometrists referral and information services. By 2021, healthcare spending is estimated to make up 2.94% of the country’s GDP. National Agency for Food and Drug Administration and Control (NAFDAC) lacks teeth and has seldom imposed punitive fines on the errant vendors. Another new variant of the coronavirus appears to have emerged in Nigeria, Africa’s top public health official said Thursday, but further investigation is needed. Penetration of NHIS today is less than 4% at slightly more than 5 million enrollees. The people who actually have electricity supply experience difficulties around 60% of the time. Nigeria has one of the largest stocks of human resources for health (HRH) in Africa but, like the other 57 HRH crisis countries, has densities of nurses, midwives and doctors that are still too low to effectively deliver essential health services (1.95 per 1,000). I have personally seen some of these vendors increasing the number and building capacity of their maintenance staff, locating them strategically all over the country to increase response timings. As the healthcare market has become more vibrant, these medical device vendors have sold more and more equipment and the capacity building of their staff too has seen a positive upswing. Corruption is a well-known malady afflicting the healthcare sector in Nigeria. For those needing a more detailed and comprehensive overview of Nigeria we have published an expert Report on Nigerian Society, Culture & Business. Electricity supply is very erratic even in bigger cities such as Lagos and Abuja. In recent years migration to foreign countries has declined and the primary challenge for Nigeria is inadequate production and inequitable … The Managing Director and Chief Executive Officer of Private Sector Health Alliance of Nigeria (PHN) Dr. Muntaqa Umar-Sadiq, made the remark during a presentation at the just […] I wish u all the best in your endeavour. After the flagging off of the scheme, NHIS gave itself a target of ten years (2005-2015) to achieve universal coverage, which still remains a pipe dream. Register. There is empirical evidence to demonstrate that corruption undermines cost, volume and quality of healthcare delivery, undermining the access and quality of patient care. Healthcare issue is an enigma in Nigeria and its citizens are suffering the consequences. Apply for all the appropriate certifications and license. Nigeria. High demand for housing, speculative purchase of property, high rate of inflation and the absence of government role in monitoring prices are some of the reasons for high land prices. This is yet another malady afflicting the healthcare industry in Nigeria, mostly the public healthcare facilities. Register your business with Secretary of State in your state. The Alliance strategically leverages the resources, expertise and capabilities of the private sector in Nigeria to yield gains in health. Today’s top 20 Business Development Manager Healthcare jobs in Nigeria. We unfortunately tend to focus more on health program management, plus many hospitals in Nigeria tend to wing it when it comes to management. Buy an In-Depth Country Report for Nigeria. The healthcare consulting business is not a capital intensive one. The use of traditional medicine (TM) and complementary and alternative medicine (CAM) has increased significantly over the past few years. The coverage of these schemes varies. One of the reasons for the same has been its total dependence on oil. Healthcare spending in 2014 was estimated to have been around $9.7 billion. Embezzlement, fraud and corruption reduce funding available for salaries, health services and maintenance, contributing to lower staff motivation and overall quality of care. The state government is responsible for general local hospitals and providing primary healthcare centres in Nigeria. The quality and accessibility of health care have long been known to have a disproportionate impact on Nigerians wellbeing and the economy at large. So, healthcare needs to be treated as an urgent national priority. Nigeria’s pathway towards achieving Universal Health Coverage should have been crafted, communicated and pursued with passion by the NHIS. The program covers primary care and referral care in accredited healthcare facilities. The healthcare opportunity is huge in Nigeria, as are challenges. Key issues to shape Nigeria’s healthcare sector in 2020. But the huge interest rates of commercial banks are a turn-off to most developers. By Etete Road Junction, GRA. There are less than 35,000 medical doctors and 150,000 registered nurses nationwide. Nigeria In recent years migration to foreign countries has declined and the primary challenge for Nigeria is inadequate production and inequitable distribution of health workers. In fact, the business challenges encountered in Nigeria are in many ways similar to those being faced by many of the developing nations. Average life expectancy in Nigeria is 48.5 years and the Infant Mortality Rate remains high at 87.3 per 1000 live births. Nigeria has a privatized economy, low … HBI asked one of them whether recent entries into the diagnostics space from foreign entities are a benefit or are just helping to cream off the top-tier of the market. On an average, about 4% of households spend more than half of their total household expenditures on healthcare and 12% spend more than a quarter. Again, solving the puzzle requires an aggressive approach from … Clinic (Health Care Management) Business Plan in Nigeria. And it is estimated to reach 22% by the year 2050. The Federal Government's target of about $68.1 billion fresh foreign direct investment from 8 newly licensed free zones creates a new business opportunity for international businesses to invest in Africa's fastest growing market. While significant progress was made in the first two decades, the economic downturn resulting from the plummeting of oil price of which Nigeria was dependent led to a series of twists and turns in the health sector. Healthcare Federation of Nigeria, a healthcare advocacy organisation in Nigeria. Natures Way Wellness Centre specalises in fitness and nutrition and provide products and services for individuals and corporates. 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