In 2023, the Domestic Private Health Expenditure in Nigeria stood at $54.12 per capita. The forecast for 2024 shows an increase to $54.35, representing a year-on-year increase of 0.43%. This upward trend continues into 2025 with $54.66, showing a 0.57% increase, followed by $54.94 in 2026, indicating a 0.51% rise. For 2027, the expenditure is projected to be $55.18, up by 0.44%, and $55.39 in 2028, reflecting a 0.38% increase from the previous year.
The compound annual growth rate (CAGR) for the five-year period (2024-2028) is projected to be approximately 0.46%, reflecting a steady, albeit modest, increase in domestic private health expenditure per capita.
Future trends to watch include the impact of economic policies on disposable income, healthcare sector reforms, inflation rates, and the availability of healthcare services. Monitoring these factors will be crucial in understanding the trajectory of private health expenditure in Nigeria.
