Psychiatrists and mental health experts have raised alarm over the deepening mental health crisis in Nigeria, revealing that about 50 million Nigerians currently live with one form of mental health condition or another, with more than 75 per cent of them lacking access to proper care or treatment.

The experts made the revelation during the closing-gong ceremony held on the floor of the Nigerian Exchange (NGX) in Lagos to commemorate the 2025 World Mental Health Day.

Speaking at the ceremony, the Medical Director and Psychiatrist-in-Chief at Pinnacle Medical Services, Dr. Maymunah Kadiri, described the NGX as the “heartbeat of the nation’s economy,” noting that the high-stakes and pressure-driven nature of financial trading exposes workers to extreme stress, anxiety, and burnout.

“Over 75 per cent of Nigerians living with mental health challenges do not have access to medical care. Financial pressure and economic instability are among the major triggers of mental distress. In the stock market, when things don’t go as expected, the psychological impact can be severe,” Dr. Kadiri said.

She warned that prolonged stress and unmanaged anxiety in fast-paced workplaces such as the Exchange could lead to serious mental health disorders, including depression, burnout, and substance abuse.

Also speaking, the Medical Director of the Federal Neuropsychiatric Hospital, Yaba, Dr. Olugbenga Owoeye, said the statistics on mental health in Nigeria are alarming and call for urgent, coordinated intervention.

“Money is important, but the brain that makes the money is far more important. Mental health is as critical to the economy as any fiscal policy,” he said.

Dr. Owoeye called on public and private institutions, including the NGX, to establish Employee Assistance Programmes (EAPs) and wellness initiatives that provide psychological support to workers.

He emphasized that mental health should be viewed as a productivity and national development issue.

Offering a legal and social perspective, Mr. Yusuf Kadiri (SAN), Chairman of Pinnacle Medical Services, advocated for the decriminalization of attempted suicide, describing it as a mental health emergency rather than a criminal act.

“Anyone who attempts suicide needs medical help, not prosecution,” he said. “We must reform our laws to remove provisions that punish such individuals.”

Kadiri further urged families to be proactive in checking on loved ones who may be struggling emotionally, stressing that early intervention can prevent tragic outcomes.

In the same vein, Mr. Adedayo Oketola, President of the International Visitor Leadership Alumni Association of Nigeria (IVLPAN), under the U.S. Mission in Nigeria, said mental health must now be seen as a national development and leadership priority.

“Mental health is the foundation of effective leadership, innovation, and productivity,” Oketola said.

“As we build the next generation of leaders, we must prioritize emotional intelligence, resilience, and psychological well-being. Without mentally healthy people, we cannot have a healthy nation or stable economy.” (Daily Trust)