Federal Govt Disburses N100bn To Indigenous Pharma Manufacturers

President Muhammadu Buhari on Tuesday said the Federal Government has disbursed a total of N100 billion to indigenous pharmaceutical manufacturers and healthcare investors as loans to expand their capital base and boost local production of medicines and medical consumables.

Buhari disclosed this on Tuesday, in Abuja while receiving the new Executive Members of the Nigerian Medical Association (NMA).

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

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He added that the Health Sector Reform Committee chaired by Vice-President Professor Yemi Osinbajo is currently exploring models for revitalizing the nation’s healthcare system that would improve the quality of care and the benefits package to care providers.

On brain drain in the health sector, the President said he had directed the Honourable 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 Federal 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.

The President 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 the 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.”