Federal Government has disbursed a total of N100 billion to indigenous pharmaceutical manufacturers

The Federal Government has disbursed a total of N100 billion to indigenous pharmaceutical manufacturers and healthcare investors as loans.

President Muhammadu Buhari, who announced this on Tuesday, in Abuja, while receiving the new Executive Members of Nigerian Medical Association (NMA), said the loan will help to expand capital base and boost local production of medicines and medical consumables.

The President explained that the loan was extended through the Central Bank of Nigeria’s support to the private pharmaceutical sector.

He stated that the Health Sector Reform Committee chaired by Vice-President Yemi Osinbajo, is currently exploring models for revitalising the nation’s healthcare system, in ways that improve quality of care and the benefit package to care providers.

On brain drain in the health sector, President Buhari said he has directed the Minister of Health to look into ways of turning “brain drain” to “brain gain”, by engaging top Nigerian medical experts in the diaspora in knowledge and skills repatriation.

He urged the Association and other stakeholders in the health sector to support initiatives by the Government and work with the Committees set up to chart a fast track to a health system that best meets the needs of Nigerians in the 21st Century.

President Buhari also commended the Association, which is the umbrella body of all Medical Practitioners in Nigeria, for consistently choosing peaceful resolution of differences on matters pertinent to the National health system.

‘‘I commend our medical professionals for their contribution to Nigeria’s exemplary management of the COVID-19 pandemic, the control of malaria, HIV and Tuberculosis, and other feats also achieved by Nigerian doctors in the diaspora.

‘‘Our response to COVID-19 pandemic has been praised internationally and your members are key parts of this success.
‘‘I recall that in the last quarter of 2021, the immediate past NMA Executives visited me and presented recommendations for the health sector, which included, the review and amendment of NHIS Act; upgrading and equipping existing health institutions; loans to fund hospital equipment; the repeal and re-enactment of the Medical and Dental Practitioners’ Act; and Appeal for more funding for the four (4) newly established Universities of Medical Sciences.

‘‘I am pleased to inform you that most of these recommendations have been addressed, whilst further action is being taken to study those involving cross-cutting administrative processes with legal implications”, he said.

The President used the occasion to congratulate a former President of the body, Dr Osahon Enabulele, the President-elect of the World Medical Association, the first Nigerian to hold the position.

While wishing him a successful tenure, the President expressed hope that Enabulele would use his position to support improvement in health care delivery in Nigeria and lower income countries.

He also wished the new Executive Members of NMA a successful tenure, urging them to earnestly continue to serve as arbiters of peace and progress.