Forecast: Out-of-Pocket Health Expenditure in Nigeria

Analysis of Forecast: Out-of-Pocket Health Expenditure in Nigeria:

In 2023, out-of-pocket health expenditures stood at 79.87% of Total Current Health Expenditure. This proportion is expected to increase steadily year-on-year by approximately 0.53% in 2024, reaching 80.4%, and continue rising each year to 81.92% by 2027. This reflects a consistent upward trend with an average yearly growth (CAGR) of about 0.51% over the five years from 2023 to 2027.

Future trends to watch for:

- Changes in government healthcare funding policies which could potentially impact out-of-pocket expenditures.- Economic factors such as inflation, which could influence overall healthcare costs.- The development and implementation of health insurance schemes aimed at reducing personal out-of-pocket expenses for healthcare.