The Central Bank of Nigeria (CBN) on Friday disclosed that it had earmarked N200 billion to support the healthcare sector in view of its critical roles in the current drive to sustain the nation’s economic recovery.
The apex bank governor, Mr, Godwin Emefiele, made this disclosure at the inauguration of Duchess International Hospital, a newly built 100-suits modern health facility in Lagos.
Emefiele said: “To further drive the recovery of our economy, the monetary policy recognised that while the interventions in our manufacturing sector is essential; it is also essential that we continue to support the medical sector.
“When we started COVID, CBN set aside N100 billion to support the healthcare sector. But upon rise in demand, we have disbursed N107.7 billion, supporting 114 healthcare projects which include medical diagnostics, pharmaceuticals, dental services, eye clinics both private and public hospital just to mention a few.
“We had taken up N100 billion to support healthcare but the monetary policy has said we should move it further up to N200 billion. We would continue to do whatever can be done to support healthcare,” he assured.
This is even as he restated the bank’s commitment to continually support Nigerians in their businesses, calling on those abroad to come back home and help in the economic revitalization agenda of the government.
According to him, the monetary policy recognises that Nigeria parades some of the best in the world hence its encouragement of Diaspora Nigerians to return home and make their contributions.
While assuring that the apex bank will continue to do the little it can to give Nigerians the support to grow their businesses, Emefiele also appealed to more private sector investors to invest in medical facilities that would help reduce Nigerians medical tourism and by so doing, conserve the foreign reserves.
For instance, the apex bank governor pointed out that for every 1 billion dollar allocated to medical treatment abroad, there would be less than 1 billion dollars available to other critical sectors and urged the OPS community to invest in health facilities since it one does not need to be a medical doctor to own such a facility.
In his opening remarks, the Vice- President, Prof. Yemi Osinbajo, said the facility had all it needed to be the place of choice for medical tourists from other countries, stressing that “it is one of those days when the belief is affirmed that this is a country of world class talents, world class ideas and world class execution.
“We are at Duchess, which by standards and personnel is comparable to anywhere in the world. The opening celebrates the fact that they have all that it takes to be the place of choice for even medical tourists from other countries.
“With investments like this seeking high quality medical personnel, we can even reverse the trend of doctors leaving the country. The reasons for their leaving are obvious; better remuneration, better facilities,” Osinbajo added.
The Chairman, Reddington Hospital Group, Dr. Adeyemi Onabowale, urged the apex bank to benchmark healthcare funding against a stable currency, pointing out the cost of healthcare globally is huge, more especially in Nigeria where the national currency’s exchange rate remains unstable.
