By Seyi Odewale
Psychiatrists and medical professionals have raised concerns over Nigeria’s growing mental health crisis, revealing that about 50 million Nigerians are currently living with mental health challenges, with over 75 per cent of them lacking access to professional care.
The experts made this known during a closing-gong ceremony held on the floor of the Nigerian Exchange (NGX) in Lagos on Friday to mark the 2025 World Mental Health Day. This annual global event is observed on October 10 to raise awareness and promote advocacy for mental wellbeing.
Speaking at the event, the Medical Director and Psychiatrist-in-Chief at Pinnacle Medical Services, Dr Maymunah Kadiri, described the Nigerian Exchange as the “heart of the nation’s economy,” noting that the high-pressure nature of financial trading exposes brokers and dealers to stress, anxiety, and burnout.
“When it comes to the Nigerian Stock Exchange, that is the heart of the nation’s economy. Over 75 per cent of individuals with mental health challenges do not have access to medical care,” Dr Kadiri said.
Financial or economic issues are some of the primary triggers for mental health challenges. There are days when the market is bullish and days when it is bearish, and when things don’t go as expected, the psychological consequences can be severe.”
She warned that unmanaged stress in such workplaces could lead to mental fatigue, anxiety disorders, and depression, and urged traders to adopt healthier coping strategies.
“The issue of burnout, stress, anxiety, and depression can be common among them because it is a workplace. They must not only be mentally aware but take deliberate steps to ensure they remain mentally stable,” she added.
Kadiri also encouraged Nigerians to speak openly about mental health, reject stigma, and avoid substance abuse as a means of coping with stress, urging both individuals and organisations to invest in preventive mental health programmes.
Echoing her remarks, the Medical Director of the Federal Neuropsychiatric Hospital, Yaba, Dr Olugbenga Owoeye, said the scale of mental health challenges in Nigeria had reached alarming levels.
“About 50 million Nigerians currently live with one form of mental health challenge or another,” he revealed. “Money is important, but the brain that makes the money is much more important. The mental health of Nigerians is as vital as the economy itself.”
Owoeye called for the establishment of Employee Assistance Programmes (EAPs) and workplace wellness initiatives within the NGX and other high-stress industries, noting that mental wellbeing should be treated as a key component of productivity.
He further stressed that while the Federal Government continues to make efforts to improve mental health services, private stakeholders and corporate organisations must also play a significant role in providing access to care.
Offering a legal perspective, the Chairman of Pinnacle Medical Services and a Senior Advocate of Nigeria (SAN), Yusuf Kadiri, urged the government to decriminalise attempted suicide, stressing that individuals who reached that point deserved medical help, not punishment.
He called on families to pay closer attention to loved ones who may be struggling emotionally, noting that early intervention can prevent tragedy.
Speaking on behalf of the stockbrokers, David Adonri, Chief Executive Officer of Highcap Securities Limited, thanked the visiting psychiatrists for promoting mental health awareness on the Exchange floor.
The event underscored the increasing recognition of mental health as both a national development issue and a workplace productivity concern, with experts urging all Nigerians to prioritise their mental wellbeing.
Also speaking at the event, President of the International Visitor Leadership Alumni Association of Nigeria under the United States Mission in Nigeria, Mr Adedayo Oketola, emphasised that mental health must now be recognised as a national development and leadership priority, not just a medical concern.
