Health
Top 5 Ways Current Economic Crisis Affects Nigerians

It is no secret that the Nigerian economy is in crisis. In the last six months, the official Nigerian currency, Naira, has fallen by almost 50% and there has been an increasing change in the price of goods and services. With pay increases lagging behind and the inflation soaring, the wallet of most Nigerians continue to take a beating as the cost of living increases in just about every aspect of daily life.
Jumia Travel, Africa’s No.1 online hotel booking portal, lists the top 5 ways the crisis is affecting the everyday life of Nigerians.
Decreased job opportunities
From prospective civil servants to bricklayers just looking for an hour’s pay, citizens in the country are now faced with extreme difficulty in securing job opportunities as most employers can no longer afford to pay as much as they used and are instead laying off staff to ensure they maintain operations. Even marketers and sellers can no longer make as much sales as they used to and most have closed shop, as consumers now tend to buy less, switch to less-expensive substitutes or drive farther to find bargains.
Increase in cost of living
The recent times have witnessed significant increase in food, fuel and utility costs. This means that less money remains once these necessities are paid for, leaving little for savings or discretionary spending. While the effect of this hike in cost of living has affected almost all citizens in their daily life, the rising prices have hit the lower and middle classes especially hard. It is quite difficult to keep up with the rising cost of living when your paycheck is not growing at a similar rate.
Higher security risks
There are increased incidents of theft and kidnapping for ransom around the nation. It is getting hard to earn an honest living and some who feel like they have no other choice give in to different vices and extort money from others either by conning them, or forcefully taking it from them. The people, both rich and poor, are therefore more prone to security risks; and the culprits when caught, face the prospect of jail term.
Reduced access to credit and trade financing
The economic crisis in Nigeria is friendly to debtor’s but of huge disadvantage to creditors as thanks to the continued inflation, amount borrowed will eventually deteriorate in value so that the debtor pays back less money and the creditor receives less money. This has been harder for financial institutions, including banks to give out loans in recent times to prospective entrepreneurs and traders and as such, most are finding it hard to keep their businesses afloat or grow them any further than it already is.
Depression
The economic crisis has ensured the life of the average Nigerian is becoming more difficult by the day. A majority of Nigerians are suffering from depression and as such, are now finding it hard to go on with their daily lives. In a bid to make ends meet many stay on the hustle and are forced to manage all kinds of stress, from physical to emotional. This has led to an increase in death rate and a decrease in fertility rate in the country.
Nkem Ndem, a PR Associate at Jumia Travel, writes from Lagos.
Health
WHX in Lagos 2026: Nigeria Open for Healthcare Investment—FG
By Modupe Gbadeyanka
The federal government has urged global investors and innovators to tap into the Nigerian healthcare ecosystem, which is projected to grow by 7.1 per cent, reaching a market value of $161.7 million by 2027.
This advice was given by the Minister of State for Health and Social Welfare, Mr Isiaq Salako, at the opening of the World Health Expo (WHX in Lagos 2026), formerly known as Medic West Africa, on Tuesday in Lagos.
The broader West African market is expected to reach more than $11 billion, providing investors with an opportunity to get a good return on investment.
“Nigeria is open for healthcare investment. We want platforms like WHX in Lagos to serve as a critical conduit for translating this investment ambition into tangible technology access for our hospitals and patients,” the Minister, who declared the event open on behalf of President Bola Tinubu, said.
He praised the organisers of the expo, which welcomed over 8,000 healthcare professionals and 500 exhibitors spanning 40 countries, for growing the programme into a vital catalyst for West African healthcare transformation.
Addressing the stark reality that between 85 per cent and 99 per cent of medical equipment and in vitro diagnostics in West Africa are currently imported, Mr Salako outlined aggressive federal interventions designed to dismantle supply chain vulnerabilities and skyrocket local manufacturing capabilities.
He also spotlighted key presidential directives, including the Presidential Initiative to Unlock Healthcare Value Chains (PVAC) and the Presidential Executive Order for the Pharmaceutical and Allied Sectors, both engineered to catalyse health security, drive economic growth, and generate employment through strategic private-sector collaborations and Public-Private Partnerships (PPPs).
“Our commitment to improving access to modern equipment and technologies in hospitals is backed by concrete action. The government has inaugurated the $1.2 billion Sector-Wide Approach (SWAP) initiative, a comprehensive overhaul addressing financing, workforce development, and infrastructure.
“Furthermore, for the 2025 fiscal year, the Federal Government committed N402 billion specifically for health sector infrastructure investment,” he stated, also highlighting an expansive health infrastructure upgrade program in partnership with the Nigeria Sovereign Investment Authority (NSIA).
According to him, this phased initiative is actively delivering oncology and nuclear medicine centres across six tertiary hospitals, alongside establishing 22 modern medical diagnostic centres, seven cardiac catheterisation laboratories, and expanded radiology and clinical pathology capabilities distributed across Nigeria’s six geopolitical zones.
Also speaking, the chief executive of EHA Clinics, Dr Ifunanya Ilodibe, stressed the urgent need to support and unify fragmented growth within the healthcare system, noting that WHX serves as the precise ecosystem platform required to bring together policymakers, clinicians, and investors to move actionable strategies forward.
Also, the President of the Healthcare Federation of Nigeria (HFN) and Country Director of PharmAccess, Njide Ndili, said, “HFN bridges the gaps in health financing, opening up critical connections to achieve true health sovereignty,” praising Africa CDC’s historical intervention, particularly during the Ebola crisis and urged participants to utilise the WHX exhibition floor to forge collaborations capable of scaling locally produced medical equipment.
The Lagos State Commissioner for Health, Mr Akin Abayomi, on his part, highlighted the enforcement of the National Health Insurance Authority (NHIA) Act in Lagos State as a landmark regulatory milestone. The Act mandates health insurance for all residents, structuring the financial environment to guarantee medical protection across various socioeconomic levels.
Delivering the keynote address, the Special Regional Representative of the Director General of the Africa CDC Western Regional Coordinating Centre, Prof. Aliko Ahmed, called on leaders in geopolitical positions to enact liberating trade policies aligned with the African Continental Free Trade Area (AfCFTA) to shape the continental agenda, emphasising that the Africa CDC will fiercely prioritise building trust in locally manufactured healthcare products.
WHX in Lagos 2026 runs for three days, featuring accredited forums, cutting-edge product showcases, and high-level networking tracks designed to translate billions in public and private investment into immediate technology access for hospitals and patients.
Health
Euracare Secures Court Order Halting Inquest into Chimamanda Son’s Death
By Adedapo Adesanya
The coroner’s inquest into the death of 21-month-old Nkanu Adichie-Esege, son of renowned author Chimamanda Ngozi Adichie, suffered a major setback on Wednesday after Euracare Multi-Specialist Hospital informed the coroner’s court that it had obtained an order of the Lagos State High Court staying further proceedings in the probe.
The matter came before Coroner Magistrate Atinuke Adetunji at Court 9, Igbosere Magisterial District, Yaba, Lagos, and was scheduled for the commencement of witness’ testimony.
Counsel to Euracare Multi-Specialist Hospital, Professor Taiwo Osipitan (SAN), told the court that the hospital had initiated judicial review proceedings challenging, among other issues, the jurisdiction of the Coroner’s Court to conduct the inquest in the absence of the deceased’s body.
He disclosed that the High Court had granted leave for the judicial review application and ordered that the leave operate as a stay of proceedings pending the determination of the suit.
The senior advocate also informed the court that although the Lagos State Attorney-General’s Office denied seeing the originating processes from the High Court, proof of service was available.
Responding on behalf of the family, Mr Kemi Pinheiro (SAN) confirmed receipt of both the originating processes and the High Court order.
While acknowledging the obligation of all parties to comply with court orders, he informed the coroner that the family had already filed four witness statements on oath, including that of Dr Ivara Esege, as well as statements from independent medical experts from Nigeria and the United States, who are expected to testify at the inquest.
Mr Pinheiro urged the court not to adjourn the matter indefinitely, but to a definite date after the court vacation to enable parties to report on developments in the High Court proceedings.
He also highlighted the need for transparency and public confidence in the fact-finding process, saying, “He who is innocent does not fear an open inquest.”
Counsel representing Atlantis Paediatric Hospital supported the request for a definite adjournment rather than an indefinite postponement.
Following submissions by counsel, the Coroner adjourned the matter until October 8, 2026, for a report on the status of the High Court proceedings.
Health
Gavi Promises $50m for Bundibugyo Ebolavirus Vaccines
By Modupe Gbadeyanka
About $50 million has been promised by Gavi, the Vaccine Alliance, through its First Response Fund (FRF), to support the response to the ongoing Bundibugyo ebolavirus outbreak.
A statement from the organisation made available to Business Post on Monday said up to $40 million would be available to enable accelerated access to investigational doses and, eventually, approved vaccines, while a further $10 million would support outbreak response and protection of routine immunisation services in impacted countries.
“We need to act now to ensure that, once one or more vaccine candidates are ready, manufacturers are in a position to start producing doses at scale,” the chief executive of Gavi, Dr Sania Nishtar, was quoted as saying.
“Leveraging this allocation, Gavi will work closely with CEPI and partners to design the right incentives to achieve this goal, exploring all options, including potential Advance Purchase Commitments.
“This effort, alongside ensuring emergency funds are on hand to support outbreak response and protect routine immunisation services in the communities impacted, is exactly what our First Response Fund was designed for,” Dr Nishtar added.
The First Response Fund is the only globally approved mechanism that allows “at-risk” financing for scaled-up production of vaccines under development. This means Gavi is able to make vital early investments even when development outcomes are uncertain.
The $40 million in immediate surge financing that has been approved today will enable manufacturers of the leading candidates of a vaccine against the Bundibugyo virus to directly commit to high-capacity manufacturing.
This, in turn, will ensure that, as soon as clinical trials demonstrate positive outcomes, investigational vaccine doses could be deployed rapidly to support outbreak response.
Looking to the longer-term, Gavi will also provide incentives for manufacturers to adopt the fastest pathways towards WHO Emergency Use Listing (EUL) and/or WHO Prequalification (PQ), which are critical global approvals that will enable the rapid use of these vaccines in future emergencies.
In the coming weeks, Gavi will finalise the design of a financial mechanism that leverages the $40 million FRF allocation to achieve these vaccine access goals, in close partnership with the Coalition for Epidemic Preparedness Innovations (CEPI) as well as WHO, Africa Centres for Disease Control and Prevention (Africa CDC) and UNICEF.
The final design will take into account the characteristics of individual vaccine candidates and the needs of their manufacturers and may include mechanisms such as Advance Purchase Commitments. Work will also be undertaken to ensure successful candidates from African-based vaccine manufacturers can benefit from accelerated support through Gavi’s African Vaccine Manufacturing Accelerator (AVMA) initiative.
In addition to these investments, Gavi will also immediately release US$ 10 million to support countries and partners with outbreak response.
This funding will support implementation of national outbreak response plans, including targeted investments to protect routine immunisation, protect health care workers and ensure readiness for future vaccines. Gavi will work closely with countries, partners including Africa CDC, WHO, UNICEF, World Bank, and donors to ensure these investments complement other efforts.
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