The Nigerian private healthcare sector is experiencing an unprecedented crisis, with approximately 50% of private hospitals shutting down due to unsustainable operating costs. According to Raymond Kuti, President of the Guild of Medical Directors (GMD), an average of three out of six private hospitals are closing monthly, highlighting a dangerous deterioration of the country's healthcare infrastructure. Key Impacts: - 500% increase in medical consumables costs - Severe workforce shortages due to medical professionals emigrating - Declining patient visits due to economic hardship - Increasing operational costs, especially electricity - Rising dependence on self-medication among citizens Analysis: 1. Systemic Healthcare Crisis:…

Standard Bank says Nigeria is losing an estimated $26 billion annually due to electricity shortages in the country. In its latest Africa Trade Barometer report, Standard Bank identified electricity supply as a critical barrier to business operations in Nigeria and across other African markets. The report also said businesses in the country spend around $22 billion yearly on off-grid fuel to offset the impact of unreliable electricity, further driving up operational costs. “In Nigeria, surveyed businesses must contend with a national grid that frequently collapses as it fails to meet a daily peak demand which is nearly four times its…

The National Bureau of Statistics (NBS) says only 58 percent of households in Nigeria are connected to the national grid. In its ‘Nigeria Residential Energy Demand Side Survey (NREDSS) 2024,’ on Wednesday, unveiled in Abuja, NBS said nine states; Akwa Ibom, Bauchi, Ekiti, Oyo, Enugu, Kwara, Plateau, Kano, and Sokoto, were selected across the six geo-political zones of the country for the survey. According to the bureau, households from each state were interviewed, making a total of 8,100 households across urban and rural areas. NBS said 86.6 percent of households connected to the grid had electricity supply, 85.2 percent of…

No thanks to the excruciating economic conditions Nigerians are facing, Nigerians are going back to the old ways of brushing their teeth. Gone are the days when Nigerians chose from a large array of brands and qualities of toothpaste. Even the least of the toothpastes cost an arm these days, and only the super-rich can afford them. But for an average family, who depends on God’s mercies for a moderate one or two meals, out of the three required in a day, spending N5,000 on toothpaste that may not last two weeks for an average family of seven, is a…