The share of private health expenditure in Nigeria has seen modest growth from 2013 to 2023, incrementally increasing from 76.17 in 2013 to 78.1 in 2023. The year-on-year variation reveals minor fluctuations but maintains a generally upward trend. From 2021 to 2022, the share increased by 0.46%, slightly less than the 0.47% growth from 2020 to 2021. The compound annual growth rate (CAGR) over the last five years stands at 0.47%. Forecast data from 2024 to 2028 project continued growth, with a five-year CAGR of 0.33% and an overall growth rate of 1.65% through 2028.
Future trends to watch for include potential changes in policy affecting private sector involvement in health care, economic shifts impacting disposable income, and global health initiatives that might influence local health expenditure patterns. Privatization of healthcare services and technological advancements could further drive private health expenditure.
