Investors are increasingly targeting Nigeria’s healthcare sector, where substantial gaps in hospital infrastructure, medicines, and insurance coverage could create major commercial opportunities in the coming years. Nigerians are projected to spend $34 billion on healthcare in 2026, nearly double the figure from five years ago. This is expected to rise to $52 billion by 2030. Already, private providers deliver more than 60% of healthcare services in the country. However, there is still a mismatch between demand and supply: Nigeria imports 70% of its medicines and fewer than 10% of its citizens have health insurance. Despite the private sector’s role, the West African country still lags behind in investment, having received only 8% of the $4.2 billion invested in African healthcare since 2016 even though it accounts for 14% of the continent’s population. Firms see a major opportunity in this gap, with one CEO arguing the sector should be treated as a real asset class rather than solely charitable work.