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President of the Nigeria Academy of Pharmacy and CEO of Business School Netherlands International, Prof. Lere Baale, has called for a transformative displacement successful however Nigeria funds and manages its healthcare assemblage to execute cosmopolitan wellness sum and economical competitiveness.
In his insubstantial titled “Unlocking the Value Chain successful the Healthcare Sector done Veritable Health Financing Options,” astatine the 2025 Scientific Conference and Annual General Meeting of the Healthcare Providers Association of Nigeria, Prof. Baale stated that 76 per cent of Nigeria’s full wellness spending is funded out-of-pocket, pushing millions of citizens into fiscal hardship.
He said wellness should beryllium viewed arsenic a productive concern alternatively than a societal expense, stressing that each 1 invested successful wellness tin output 4 – 6 successful economical returns done accrued productivity, occupation creation, and much important quality capital.
Baale’s insubstantial breaks down the healthcare worth concatenation into 3 levels: upstream (research and manufacturing), midstream (procurement and distribution), and downstream (service delivery). It reveals however financing gaps astatine each level weaken access, equity, and prime of care.
He projected a “veritable wellness financing” model connected sustainability, equity, efficiency, and innovation. The exemplary combines fiscal reforms with private-sector information to marque healthcare resilient and economically catalytic.
Prof. Baale identifies 4 large pathways to unlock the healthcare worth chain: Public Investment and Policy Reform, Insurance and Risk Pooling, Private Capital Mobilisation and Innovation, and Pharmaceutical and Supply Chain Financing.
On Public Investment and Policy Reform, Baale said, “Expand the Basic Health Care Provision Fund (BHCPF) beyond its existent ₦192 cardinal and summation authorities wellness spending supra 4 per cent of GDP to enactment performance-based financing.”
On Insurance and Risk Pooling, helium said, “Strengthen National Health Insurance Authority (NHIA) coverage, peculiarly among informal workers, done integer micro-insurance and community-based schemes inspired by Lagos’ ILERA EKO and Rwanda’s cooperative model.”
The renowned strategist urged Public-Private Partnerships (PPPs), diaspora bonds, and societal interaction investments to concern diagnostics, logistics, and integer wellness infrastructure.
He besides called for promoting section manufacturing via recognition guarantees, just procurement systems, and working-capital facilities to guarantee medicine information and trim shortages.
Citing examples from Ghana and Rwanda, Baale noted that some countries achieved sustainable financing and precocious sum done innovative fiscal measures, assemblage engagement, and accountable governance.
“Nigeria’s healthcare aboriginal volition not beryllium built by chance, but by choice. If we perpetrate to veritable financing, anchored successful hazard pooling, transparency, and innovation, Nigeria volition prevention lives, catalyse industries, make jobs, and physique resilience,” Prof. Baale stated.
He urged government, backstage investors, professionals, and improvement partners to follow a “not much money, but smarter money” attack to guarantee that each Naira spent delivers measurable results and shared prosperity.
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