Nigerian Healthcare Sector Growing, But Lags Behind in Stock Exchange Representation
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Lagos, Nigeria – October 14, 2024
Ugodre Obi-Chukwu, CEO of Nairametrics, has highlighted the steady growth of Nigeria’s healthcare sector, contributing N1.2 trillion to the country’s GDP, accounting for approximately 0.7% of the economy.
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Key findings:
- The sector has experienced consistent growth since 2020, with no negative growth recorded.
- Healthcare ranks 46th or 47th among Nigeria’s subsectors.
- Only seven healthcare companies are listed on the Nigerian Stock Exchange (NGX), with a total market capitalization of N100 billion.
- The sector’s revenue is projected to reach N110 billion, with a profit of N6.5 billion and a compounded annual growth rate of 23%.
Despite growth, the sector’s representation on the NGX remains minimal, hindering its ability to raise capital for further development. Ugodre emphasized the need for increased participation in the stock exchange to boost the sector’s growth.
