2021 had record healthcare pipeline growth with 650 beds under construction, but 2022 was rather quiet with 397 beds under development.
Nevertheless, Estate Intel’s healthcare sector mapping showed that Lagos’ bed-to-population ratio is low at 2.1 beds per 1,000 people, compared to the average OECD worldwide density of 4.4 hospital beds per 1,000 people as of 2020. This presents an opportunity for investment.
Private sector ownership remains at 86%. Despite government efforts to improve state-owned hospitals and health insurance affordability through the ‘Ilera Eko programme, this tendency will persist.
Market prospects are good. Growth may slow without local healthcare operations and fundraising capabilities.
