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Why Nigeria?
In Nigeria, specifically, Goldstein Research predicts a robust Compound Annual Growth Rate (CAGR) of 9.1% for the pharmaceutical market from 2017 to 2030. This aligns with McKinsey Company’s 2017 analysis, which projected an annual market growth of up to 9%, potentially reaching $3.6 billion by 2026.
As Africa’s most populous nation, with over 220 million residents, Nigeria promises much potential for growth. United Nations projections paint a future where, by 2050, Nigeria’s population will soar to approximately 377 million, placing it just behind global giants India and China.
Nigeria’s total healthcare spend of $10 billion
Efficient public-private partnerships
Nigeria’s position as Africa’s largest economy and pharma market potential
By 2050, Nigeria’s population will soar to approximately 377 million
Nigeria’s competitive advantage
Nigeria’s Vision 2050: The Nigeria Agenda 2050 projects annual average real GDP growth rate of 7.0 percent during 2021-2050. Per capita annual income is projected to rise to about US$ 33,328.02 by 2050, making the country to comfortably reach upper-income status. Underpinned by productive capital accumulation by both the private and public sectors.
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