CBN’s intervention will improve health indices, investment in health sector- Association

Intervention
By Oluwafunke Ishola
Lagos, March 18, 2020 (NAN) The proposed intervention of the Central Bank of Nigeria (CBN) in the nation’s health sector will increase health indices and development in the country.

Dr Iyke Odo, National President, Association of General and Private Medical Practitioners of Nigeria (AGPMPN), spoke with the News Agency of Nigeria (NAN) on Wednesday in Lagos.

NAN recalls that the CBN had on March 11 disclosed its readiness to intervene in the health sector following the outbreak of COVID-19.

The CBN Governor, Mr Godwin Emefiele, said the apex bank would extend its credit intervention to pharmaceutical companies to produce drugs, medical practitioners to expand or build healthcare facilities and diagnostic laboratories.

Odo lauded the CBN’s decision, saying that the nation’s health sector, particularly the private practice, had been neglected and left to ruin.

“This is why members of the AGPMPN and other medical practitioners had struggled at their own pace and with their own sweat alone.

“Shying away from the banks because bank interest rates are not affordable and many medical practitioners see it as an economic suicide.

“That is why we have not been able to showcase our potential and dreams as doctors and investors,” he said.

According to him, healthcare in the world has changed and become technology-driven, structured, knowledge-based, competence and skills-driven with an attitude of patient-centered responsibility in healthcare.

“When you go to India, you will see cutting edge structures, equipment and training that make Nigerians migrate yearly.

“The record is there that about one billion dollars is spent yearly by Nigerians on healthcare abroad.

“That is about N370 billion yearly, this is a national calamity and that is because we have not been able to produce and provide what Nigerians seek abroad,” he said.

Odo added that many Nigerians travelled to get diagnostic capacity that was lacking in the country, and to acquire skills and treatments that are hindered economically.

“Now that the CBN has finally responded to the demands of the AGPMPN, Nigerian Medical Association (NMA) and other health stakeholders that banks should start playing their proper roles.

“To support healthcare investment by providing single digits loans to healthcare providers, so that we can take this loans and showcase our creativity, innovation and competence.

“What the CBN has done, I can assure you that the health sector of this country will blow open because private sector health providers would now step in and take this loan with faith and courage.

“They will establish for Nigerians, structures that they desire to have, trainings and competence that we desire to have, and provide such level of care that meets international standards.

“That would discourage Nigerians from going abroad to waste our hard earned foreign exchange, restore trust and confidence in Nigeria’s health sector,” he said.

Odo stressed that the intervention would reverse medical tourism, boost investment, innovation and confidence in the health sector. (NAN)

AIO/AWA/GOK
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Edited by Olawunmi Ashafa/Olagoke Olatoye