The President of the Nigeria Academy of Pharmacy (NAPharm), Professor Lere Baale, has called for urgent and bold reforms in Nigeria’s health financing system to unlock the country’s full healthcare potential. Speaking at the Healthcare Providers Association of Nigeria Annual General Meeting in Lagos, Baale said the nation must view health not as an expense but as a critical investment in national productivity.

Read more: NAPharm President Calls for Bold Health Financing Reforms to Unlock Nigeria’s Healthcare Value Chain

According to him, the lack of sustainable funding across all segments of the healthcare system ranging from research and manufacturing to service delivery continues to hinder growth. He stressed that more than 70 percent of Nigerians still pay for healthcare directly from their pockets, leaving millions at risk of financial hardship when accessing medical services.

Baale, who also serves as CEO of Business School Netherlands International, outlined several strategic approaches to revitalise the sector. He urged the government to increase its health budget to at least 4 percent of GDP and ensure the Basic Health Care Provision Fund (BHCPF) is fully and efficiently implemented.

He also encouraged broader coverage under the National Health Insurance Authority (NHIA) to include informal workers and rural populations, suggesting the adoption of digital micro-insurance models and community-based health plans.

Beyond public sector efforts, Baale advocated for stronger collaboration with private investors, including public-private partnerships (PPPs), diaspora investment initiatives, and social impact funds to finance health infrastructure, pharmaceuticals, and technology.

He further highlighted the need to strengthen Nigeria’s pharmaceutical and medical supply chains by creating credit facilities and fair procurement systems to support local manufacturers.

“Nigeria’s healthcare future will not happen by chance. It will happen by choice,” Baale said. “We need smarter financing, not just more money. Our goal should be to use every naira effectively to save lives and build a healthier economy.”

Baale’s remarks align with ongoing government efforts under the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), which aims to attract investment and modernise the sector. His call for reform underscores the growing consensus that financing innovation is the key to achieving universal health coverage and strengthening Nigeria’s healthcare value chain.