Nigeria’s pharmaceutical sector was valued at NGN 1,3 trillion (US$2.1 billion) in 2023 and is anticipated to grow at a CAGR of 0.2% by 2033 to reach NGN 4.3 trillion (US$2.2 billion) • Nigeria’s pharmaceutical market is among the largest in Africa In 2023 with pharmaceuticals accounted for 15.2% of total health expenditure in Nigeria.

The Nigerian pharmaceutical market, a $3 billion industry, is poised for 8% annual growth. Dominated by generics, it presents significant opportunities for local manufacturing and international partnerships. Key growth segments include generics, over-the-counter medications, and herbal remedies. As a gateway to West Africa, Nigeria's strategic position attracts foreign investment seeking to capitalize on this dynamic market.