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1.1 Background to the Study
The contribution of the healthcare sector to the growth and development of the entire
economy cannot be overemphasized. As the saying goes, “Health is wealth”, the health sector
is critical to social and economic development with ample evidence linking productivity to
healthcare delivery. In Nigeria, the vision of becoming one of the leading largest 20
economies of the world by the year 2020 is closely tied to the development of its human
capital through the health sector (Babatunde, 2009). Also, aside from the federal, state and
local government‟s ministries, departments and parastatals, healthcare industry is among the
top in terms of employment of labor. It is also capital intensive with capitalization of 74.06
billion naira (NSE, 2013).
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