By Rose Peter Graham | Health & Business Desk
Ultimate Health Management Services has intensified efforts to expand affordable health insurance coverage to millions of Nigerians working in the informal sector, as concerns continue to grow over the country’s heavy reliance on out-of-pocket healthcare spending.
The move formed part of discussions held in Lagos during a visit by officials of the Chartered Institute of Directors Nigeria (CIoD), who met with the health maintenance organisation to explore collaboration opportunities aimed at increasing health insurance penetration and strengthening governance standards within the sector.
At the centre of the discussions was Ultimate Health’s newly introduced insurance package targeted at artisans, traders, transport operators, ICT professionals, and small business owners who remain largely outside formal healthcare financing systems.
Ultimate Health Targets Nigeria’s Informal Workforce
Speaking during the engagement, Managing Director of Ultimate Health Management Services, Lekan Ewenla, said the initiative was designed to address one of the biggest gaps in Nigeria’s healthcare system.
According to him, a significant percentage of Nigeria’s workforce operates within the informal economy but lacks access to structured health insurance coverage.
Ewenla explained that the package costs ₦38,000 annually per enrollee and has been structured to fit within existing healthcare service frameworks already recognised by providers across Nigeria.
“We are creating a dedicated platform for the informal sector because they represent the majority of the population and are often excluded from structured healthcare financing systems,” he said.
Why Many Nigerians Remain Uninsured
Despite ongoing reforms, health insurance penetration in Nigeria remains relatively low.
According to the 2025 State of Health of the Nation Report, the number of Nigerians covered by health insurance increased from 19.2 million in 2024 to 21.7 million in 2025.
While the increase reflects progress, insured individuals still account for only about 13 percent of Nigeria’s population.
Experts say affordability concerns, low awareness levels, and limited understanding of available healthcare plans continue to discourage many Nigerians from enrolling in insurance schemes.
Ewenla noted that many individuals only seek medical attention when health conditions have already become critical, often resulting in higher treatment costs and poorer outcomes.
“Lack of adequate information is a major challenge. If people do not know what is available, they cannot access it,” he said.
Partnership Drive to Expand Awareness
Ultimate Health said it is currently working with organised groups and associations across Nigeria to increase awareness and drive enrolment among informal sector workers.
The company believes partnerships with institutions such as the Chartered Institute of Directors will help extend its reach through established business networks and professional associations.
According to Ewenla, stronger health insurance participation would not only improve access to healthcare but also strengthen the country’s overall healthcare infrastructure.
“In countries where health insurance is well established, the system generates the financial depth needed to support healthcare delivery. Nigeria can achieve the same with sustained collaboration and commitment,” he stated.
CIoD Emphasises Governance and Service Standards
Assistant Director of the Chartered Institute of Directors Nigeria, Adekemi Parker, said the visit aligned with the institute’s focus on collaboration, implementation, and governance across strategic sectors of the economy.
She described healthcare as one of the most important sectors requiring strong governance structures because of its direct impact on citizens’ wellbeing.
According to Parker, discussions also centred on improving accountability, promoting professional standards, and strengthening trust in Nigeria’s health insurance industry.
“One of our priorities is to strengthen collaboration with institutions driving innovation in key sectors. Healthcare is central to this, and today’s engagement reflects that objective,” she said.
Closing Nigeria’s Healthcare Coverage Gap
Healthcare experts have repeatedly stressed the need to reduce Nigeria’s dependence on out-of-pocket medical expenses, which often place significant financial pressure on families during emergencies.
Ultimate Health says its strategy combines awareness campaigns, stakeholder partnerships, and affordable insurance products aimed at helping more Nigerians access quality healthcare without facing severe financial hardship.
“We believe that a healthy nation is a wealthy nation, and we are committed to driving that change,” Ewenla said.
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