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There is a steady rise in the transfer of patients from some high-end, well-equipped private hospitals in Lagos to public tertiary hospitals, as some patients decide to keep affordability in focus, even as they seek good healthcare.
After major medical procedures or having achieved a safe level of stability from an emergency, patients who require prolonged hospitalisation are seeking transfer to public hospitals that have the specialty to continue their care at cheaper costs. Chief medical directors of some public hospitals who spoke with BusinessDay say the measure to cut costs has brought about new partnerships with top private hospitals, enhancing beneficial exchange... More details through: https://businessday.ng/health/article/private-to-public-hospitals-how-patients-cut-post-procedure-costs/
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Nigeria approved a new insurance law aimed at expanding coverage for vulnerable citizens unable to afford the costs of health care in Africa’s most populous country.
The National Health Insurance Authority Bill 2022 will “ensure coverage of 83 million poor Nigerians who cannot afford to pay premiums,” President Muhammadu Buhari said in an emailed statement… More details through: https://www.bloomberg.com/news/articles/2022-05-19/nigeria-s-health-insurance-law-targets-83m-vulnerable-citizens https://www.reuters.com/article/idUSL5N2XC3HB Experts in the private healthcare sector have called for increased recognition of the contribution that the sector makes in expanding the reach of care, noting that about 78 percent of healthcare spending come from private stakeholders.
While they acknowledge that the public sector’s role is essential mostly during public emergencies such as the COVID-19 pandemic, providing funding, equipment, policies and regulations, they said the private sector’s role in the health system is equally critical. Olufemi Alabi, partner in the transaction advisory service division of Ernst & Young in Nigeria said that the private sector is already transforming the way healthcare is delivered in Nigeria, speaking during R-Jolad’s 40th anniversary commemoration theme “Promoting Quality Care Delivery through Partnerships” in Lagos... More details through: https://businessday.ng/news/article/about-78-percent-of-healthcare-spend-in-lagos-from-private-sector-experts/ Beauty and personal care market size in Nigeria and other African countries is expected to grow to $1.26 billion by 2025. Specifically, the market in Africa by product consists of skin care, hair care, colour cosmetics, fragrances with distribution channel containing offline and online. The area of coverage consist of South Africa, Kenya, Egypt (Arab Republic of Egypt), Nigeria and the rest of Africa, According to the report, the key factor driving growth in the beauty and personal care market in Africa is product innovation and product line extension.
It emphasised that innovation was vital for the beauty and personal care market in Africa as the demand for innovative products offering optimal use and functionalities is high. “The preference for beauty and personal care products that address multiple concerns within a minimal time span is also gaining momentum. “To meet the evolving customer needs, vendors focus on manufacturing innovative products. They also focus on extending their existing product lines by introducing new beauty and personal care products tailored to customer requirements… More details through: https://www.newtelegraphng.com/skincare-market-in-nigeria-others-to-hit-1-26bn-by-2025/ HP Kapital LTD, a United Kingdom-based firm, and FHT Ventures Plc have a unveiled development-driven intervention to curb medical tourism and youth unemployment in Nigeria.
Briefing newsmen yesterday in Abuja, Group Chairman of HP Kapital, Mr Nandishwar Kaushal, said $500 million (N3 billion) had been sourced from the World Bank and other global development institutions as take-off fund. He said the plan was to rebuild Nigeria by making necessary interventions in critical areas of youth unemployment and medical tourism abroad by Nigerians… More details through: https://dailytrust.com/uk-based-firm-unveils-n3bn-plans-to-curb-medical-tourism-others-in-nigeria The World Health Organisation (WHO) has announced that Egypt and Nigeria’s medical products regulatory agencies have reached maturity level 3.
This means that these national bodies have been found to function well and could be eligible for inclusion into the transitional WHO Listed Authorities, a list that will comprise the world’s regulators of reference that is, regulatory authorities that should be globally recognised as meeting WHO and other international standards. A report by the global health body said Egypt had reached maturity level 3 for vaccines regulation (locally produced and imported) and Nigeria for medicines and imported vaccines… More details through: https://www.newtelegraphng.com/medical-products-nigeria-egypt-attain-whos-maturity-level/ At a time the Nigerian pharmaceutical industry is struggling for lack of patronage, Africa’s most populous nation imported antimalarial drugs worth $252.3m (N109.46bn) in six months.
According to the Foreign Trade Statistics released by the National Bureau of Statistics, the country imported antimalarial drugs valued at N65.988bn in the third quarter of 2021 and N43.472bn in the fourth quarter of the same year. This means that per capita antimalarial drug importation within this period was N547. Per capita drug importation is derived by dividing the amount of imports in naira by the population… More details through: https://punchng.com/nigeria-imports-n109bn-anti-malarial-drugs-in-six-months-local-pharmaceuticals-struggle/ NIGERIANS spent a total of $39.66bn on foreign education and healthcare-related services between 2010 and 2020, according to the Central Bank of Nigeria data.
According to CBN’s Balance of Payments, Nigerian parents and guardians paid about $28.65bn for their wards to study abroad during the period under review. The BoP report also revealed that Nigerians paid $11.01bn for healthcare-related services in foreign countries… More details through: https://punchng.com/nigerians-spend-39-66bn-on-foreign-education-medical-tourism-cbn-report/ Nigeria on Tuesday launched a 62 billion naira ($149 million) fund to help fight HIV/AIDS, especially targeting the prevention of mother-to-child transmissions as foreign funding for such programmes was under strain due to focus on COVID-19.
Some two million Nigerians live with HIV/AIDS, while more than 22,000 mother-to-child transmission cases are reported annually, official data shows. The HIV Trust Fund of Nigeria is being spearheaded by the country's national AIDS agency and local businesses… More details through: https://www.reuters.com/business/healthcare-pharmaceuticals/nigeria-sets-up-149-million-fund-fight-hivaids-2022-02-01/ Healthtech startup, DrugStoc has raised $4.4 million to expand access to quality medicines while providing sustainable supply chain financing for healthcare providers in Sub-Saharan Africa.
The funding round is led by Africa HealthCare Master Fund (AAIC), and other investors include Chicago-based venture firm Vested World and the German Development Bank (DEG), the startup said in a statement on Monday. Nobuhiko Ichimiya, Director at AAIC was quoted by the statement as saying, “We are very excited to be part of the Drugstoc journey. The pharmaceutical market in Africa has enormous growth potential and we are glad to back a company well-positioned to be a key player in the sector’s growth in sub-Saharan Africa… More details through: https://dailytrust.com/nigerian-tech-startup-secures-4-4m-funding |
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