Absence of market data, biggest problem in Nigeria’s healthcare business - Expert

George Uduku, General Manager, West Africa Healthcare at G.E, says absence of market data is the biggest hurdle facing healthcare business in Nigeria today.

During a panel session at the just concluded Doing Business in Nigeria conference in Lagos, George noted that apart from the common problems faced by businesses such as foreign exchange crunch and infrastructure gaps, there are issues peculiar to the Nigerian healthcare industry.

According to him, absence of specialised intermediaries and partners as well as difficulties in accessing finance are critical issues hurting the country’s healthcare sector.

He said, “So when we talk about market data, in my day’s job, I have to create go-to market strategies to maximise sales of medical equipment in Nigeria. When I did the same role in Boston, I can sit in front of my desk and I could get a list of hospitals, types of equipment they have. I could determine demographic data, clinical data- number of cases and procedures and types. I could also determine financial data- revenues and reimbursements from insurance for each hospital.
“So you can imagine, you sit down in front of your desk, and you can scan an entire market and determine market gaps and opportunities. In Nigeria, that is not the case. When you operate in this kind of environment, you need to pay attention to primary research and know your market intimately.”

He further explained that Nigeria is made of a collection micro markets, rather that one big market, as a result of the differences in culture and geography that exist across different zones across the country.

Opportunities across agro-value chain in Nigeria

Also speaking during the panel discussion which centred on “Doing Business in Nigeria: The Opportunities, Challenges & Realities” was the Special Adviser to the President on Industry, Trade, and Investment, John Uwajumoju, who stated that diverse opportunities exist across the agricultural value chain.

He also stated that the continuation of the Presidential Enabling Business Environment Council (PEBEC) by the current administration signals a resolve to strengthen the ease of doing business in the country and address the concerns of the private sector.