The National Bureau of Statistics has reported that Nigeria’s inflation rate rose to 34.80% in December 2024, reflecting a slight increase from the 34.60% recorded in November.
According to the latest Consumer Price Index report released on Wednesday, the marginal rise of 0.20% has been attributed to heightened demand for goods and services during the festive season.
On a year-on-year basis, the December inflation rate marked a significant increase of 5.87 percentage points compared to 28.92% in December 2023.
Olowojebutu pointed out that sustaining a sustainable healthcare system that could draw and keep the best talent was just as important as saving lives.
Regretfully, Olowojebutu stated that Nigeria, like many other countries, has a continuous struggle to accomplish this.
According to an NMA report, Nigeria has lost more than half of its competent medical professionals to other nations over the last ten years, and the percentage keeps rising, he said.
According to Olowojebutu, the practice depletes human resources, erodes the foundation of the healthcare system, and puts a great deal of strain on those who are left.
“Without a healthy foundation of skilled personnel, the healthcare system cannot function effectively, let alone deliver quality care to over 200 million Nigerians.
“We need a nationwide salary structure with a uniform base pay that ensures healthcare workers receive equitable pay for the same work and this should be adjusted for inflation over time.
“Whether they serve in rural or urban centres or public or private institutions, doctors and healthcare workers should receive fair and consistent compensation.
“This consistency fosters predictability, builds trust, and strongly incentivises doctors to remain in Nigeria rather than seek opportunities abroad.
“The structure should include well-defined increments based on experience, specialisation, and years of service,” he stated.
According to Olowojebutu, nations that are successful in retaining healthcare professionals frequently place a strong emphasis on regionally appropriate compensation.
“For instance, Canada and the United Kingdom use region-adjusted salary structures that ensure that no doctor feels economically disadvantaged based on where they choose to practice.
“This model promotes a healthy distribution of healthcare workers and encourages professionals to serve in less desirable or more remote areas.
“Nigeria can draw from these examples, adapting them to our nation’s unique cultural and economic realities,” he said.
He claimed that in order to retain physicians in the country’s healthcare system, the framework should offer obvious career advancement as well as incentives for additional specialization and ongoing education.
Universal pay fosters a climate of confidence between the government and medical practitioners, Olowojebutu continued.
He claims that physicians and other healthcare professionals have been cut off from the plans and policies established by the government for far too long.
“A standardised pay structure builds a bridge, affirming the government’s commitment to supporting the healthcare workforce.
“In return, healthcare professionals are more likely to trust and commit to the national healthcare agenda, contributing their skills and ideas to a system that values and invests in them,” he said.
According to Olowojebutu, the government’s dedication to this will strengthen long-term investments in the health and development of Nigeria as well as the welfare of physicians and other healthcare professionals.