Psychiatrists and medical professionals have urged traders on the floor of the Nigerian Stock Exchange to prioritise their mental health considering their role as the heartbeat of the Nigerian economy.
The experts made the call during a closing-gong ceremony on the floor of the NGX in Lagos on Friday to commemorate 2025 World Mental Health Day.
World Mental Health Day is an annual global event held on October 10 to create awareness and advocacy about mental health issues.
Speaking at the ceremony, the Medical Director and Psychiatrist-in-Chief at Pinnacle Medical Services, Dr Maymunah Kadiri, noted that though the operations of the traders were of importance to the economy of the country, the intricacies of trading could affect their mental health.
According to her, the bearish and bullish movements of the stock market could lead a trader to suffer mental health issues.
"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. It is interesting to know that financial or economic issues are one of the triggering factors for mental health challenges.
"When it comes to NGX, we know that there are days that the market is bullish and there are days that the market is bearish, and the days when things are not going the way they want them to go, we can imagine the consequences that follow.
"The issue of burnout, stress, anxiety, and depression can be common among them because it is a workplace. In the NGX, which is the heart of the nation, they must be not only mentally aware but take deliberate steps in ensuring they are mentally stable."
Kadiri urged the traders to embrace a good lifestyle and shun substance abuse as a means of managing mental health challenges.
She urged Nigerians to embrace the culture of speaking out when faced with mental health challenges while advocating for the non-stigmatisation of mental health patients.
In his remarks, the Medical Director of the Federal Neuropsychiatric Hospital, Yaba, Dr Olugbenga Owoeye, stressed that about 50 million Nigerians have mental health issues.
He stressed that there is therefore a need to advocate for the issue so everyone, including the NGX, would prioritise their mental health.
"Money is important, but the brain that makes the money is much more important and we are here to say the mental health of Nigerians is important as well as the economy of Nigeria.
"We are so glad that they (NGX) received us and this shows that they are open to this conversation. There is a need to establish an Employee Assistance Programme on the floor of the NGX where mental health will be taken with all seriousness."
He concluded that while the federal government has continued to make efforts to improve medical care available for individuals with mental health challenges, private stakeholders and organisations must support the efforts of the government.
While offering a legal perspective on issues of mental health, a Senior Advocate of Nigeria and Chairman of Pinnacle Medical Services, Yusuf Kadiri, stressed that it is high time the federal government decriminalised attempted suicide.
According to him, it takes only someone with deteriorating mental health conditions to attempt suicide.
"In fact, suicide, when somebody attempts to take their life, that person should not be criminalised. I am in favour of reform of the laws to expunge and remove those provisions in the Criminal Code Act, which applies in Southern Nigeria, and the Penal Code Act, which applies in Northern Nigeria.
"Before you see somebody get to the point of wanting to take their life, that person has needed help, but help has not been forthcoming."
He noted that rather than criminalising attempted suicide, the government should focus on providing compulsory medical care for individuals with mental health challenges.
"We need not get to the point of suicide before intervening. In your homes, look around, check on your loved ones," Kadiri added.
Speaking on behalf of the stockbrokers, Chief Executive Officer of Highcap Securities Limited, David Adonri, thanked the psychiatrists for the thoughtfulness of promoting mental health awareness on the floor of the NGX.
He urged them to continue promoting mental health awareness because of the large number of individuals affected by it.
Mental health experts in Nigeria have warned that the worsening economic conditions and unemployment are fueling a rise in mental illnesses across the country.
PUNCH reported that "the biting economic crisis in the country would further increase the rate of mental illnesses."
Also, experts have called on the federal government to increase investment in mental health service delivery, emphasising that underserved mental health infrastructure worsens outcomes for vulnerable groups.
These observations reinforce the call by stockbrokers and mental health professionals for structural support on the NGX floor and beyond.