Nigeria’s healthcare sector comprises several subsectors, including healthcare manufacturing, pharmaceuticals, hospitals, and laboratories.
Data from the National Bureau of Statistics reveals that Nigeria’s healthcare sector, classified under Human Health and Social Services, grew by 2.12% in the first quarter of 2024. This follows a 2.78% growth recorded in 2023.
Notably, the healthcare sector has achieved GDP growth in every quarter since 2020, marking 17 consecutive quarters of growth. In nominal terms, the healthcare sector’s GDP stands at N322 billion, contributing approximately 0.72% to the overall GDP.
The nominal GDP of the healthcare sector closely aligns with the combined market capitalization of companies listed on the NGX.
As of July 2024, Nigeria has nine healthcare companies listed on the NGX, but this article focuses on eight of them with a total market capitalization of N104 billion.
These companies play a pivotal role in advancing healthcare in Nigeria by driving innovation and improving service delivery. Equally important are the leaders behind these companies. Without further ado, here are the top CEOs shaping the future of healthcare in the country.
Isola Oluwole Olukayode-Managing Director Pharm Deko
Ishola Olukayode has been Managing Director of Pharm Deko since January 2020. As a seasoned professional in the field he has leveraged his over 25 years experience in the manufacturing industry
Pharma-Deko Plc, founded in 1962, is a pharmaceutical company engaged in the manufacturing and marketing of pharmaceutical and consumer products.
Based in Agbara, Ogun State, the company states that it has a diverse product portfolio, including over-the-counter drugs, prescription medications, and consumer healthcare products.
Pharma-Deko claims it has a significant presence in the Nigerian market and exports to other West African countries. For August 2024, Pharma-Deko’s market capitalization was N396.98 million.
Julius Adewale Adelusi- Founder/ CEO Juli Plc
Julius Adewale Adelusi-Adeluyi is the founder and Chairman of Juli Plc, the first indigenously promoted company listed on the Nigerian Stock Exchange.
Julius Adewale Adelusi-Adeluyi is the founder and Chairman of Juli Plc, the first indigenously promoted company listed on the Nigerian Stock Exchange.
He currently serves as the National President of the Nigeria Academy of Pharmacy and has held leadership positions across multiple organizations, including the Nigeria America Chamber of Commerce and the National Council for Population and Environmental Activities.
Established in 1972, Juli Plc operates in the food and drug retail and wholesale sector. Headquartered in Lagos, with branches and distribution centers in Ado-Ekiti and Ikeja, the company offers a range of products, including pharmaceuticals, medical supplies, and consumer goods.
Juli Plc claims a robust supply chain and distribution network, supporting its market presence. As of August , 2024, the company’s market capitalization stood at N2.06 billion, with shares trading at N10.30.
Adesoji Akinola Oladejo- Managing Director, Morrison Industries Plc
Adesoji Akinola Oladejo is an accomplished professional with expertise in food process engineering and business process consulting. With a solid academic foundation and certifications in project management and Six Sigma, he brings valuable skills along with his role at Tillbridge Limited.
Founded in 1955, Morison Industries Plc is a Nigerian medical supplies company that manufactures and distributes healthcare products like antiseptics, disinfectants, and wound care solutions. Headquartered in Lagos, the company has a strong market presence in Nigeria and a growing export business. As of July 2024, Morison Industries’ market capitalization was N4.4 billion, with shares priced at N4.45.
Ayodeji Oseni-MD Industrial & Medical Gases (IMG) Nigeria Plc
Ayodeji Oseni as the CEO of Managing Director/CEO of Industrial & Medical Gases holds a Bachelor of Science (B.Sc. Hons) degree in Microbiology (1989) and a Master’s in Business Administration (MBA) from Lagos State University (2002).
Industrial & Medical Gases (IMG) Nigeria Plc, established in 1959, is a manufacturer and distributor of industrial and medical gases.
The company supplies oxygen, nitrogen, and other gases essential for healthcare and industrial applications.The company’s market capitalization stands at N10.24 billion
Valentine Okelu- Managing Director/CEO at Neimeth International Pharmaceuticals PLC
Valentine Okelu is the Managing Director of Neimeth International pharmaceuticals. He became Executive Director in September 2016, reflecting his extensive experience and leadership in the pharmaceutical industry.
Founded in 1957, Neimeth International Pharmaceuticals Plc is a key player in Nigeria’s pharmaceutical sector. Specializing in pharmaceuticals and veterinary products, Neimeth operates modern facilities and a widespread distribution network from its Lagos headquarters. It established Nigeria’s first pharmaceutical manufacturing plant in Aba. As of August, 2024, Neimeth’s market capitalization is N8.2 billion. Its product range includes treatments for malaria, diabetes, and cardiovascular diseases.
Patrick Ajah – Managing Director/CEO May & Baker
Patrick Ajah is the Managing Director and Chief Executive officer of May and Baker an appointment he has held since January 1, 2021.
With over 20 years of progressive experience and responsibility in a variety of business environments; from Pharmaceuticals to FMCG, Telecoms and manufacturing.
May & Baker Nigeria Plc, established in 1944, is one of Nigeria’s oldest pharmaceutical companies, known for producing antibiotics, antimalarials, and OTC medications. Headquartered in Lagos, it operates manufacturing plants and a distribution network. As of August 7, 2024, its market capitalization was N11.65 billion with shares trading at N6.75.
Fidelis Akhagboso Ayebae CEO Fidson Healthcare plc