BUSINESS
NSIA Signs Healthcare Expansion Agreements with 3 States, 5 FMCs
By Tony Obiechina, Abuja
The Nigerian Sovereign Investment Authority (NSIA) last week took another giant stride aimed at providing citizens with access to world-class healthcare.
Agreements to that effect were signed with the affected state governments and tertiary health institutions for the expansion of its Diagnostics and Oncology Expansion Programme in Abuja.
The Authority through its NSIA Healthcare Development and Investment Company (NHDIC) entered into eight collocation agreements in total.
This will include lease and collaboration agreements with three Federal Medical Centres and three State Governments under phase one of the expansion
The state governments are Enugu, Kaduna and Kwara states while the selected, medical centres include Abubakar Tafawa Balewa University Teaching Hospital Bauchi, Usman Dan Fodio University Teaching Hospital, Sokoto, Federal Medical Centre Asaba, Delta, University of Uyo Teaching Hospital, Akwa Ibom and University College Hospital Board of Management, Ibadan, Oyo state.
The event was attended by the Managing Director, NSIA, Uche Orji, the Deputy Governor of Enugu State, Dr Cecilia Ezeilo, representatives of Governors of Kwara, Kaduna States and Medical Directors of the Teaching Hospitals.
The broader goal of the programme is to establish, in two phases, a portfolio of 23 diagnostic centres, seven catheterization labs and two oncology centres across Nigeria.
Pursuant to these agreements, funds will be deployed to build, equip, maintain, and operate catheterization labs in Kwara, Oyo, Sokoto, Bauchi and Delta states; build, equip, maintain, and operate private modern medical diagnostic centres in Enugu, Kaduna, Kwara, Akwa Ibom, Oyo, Sokoto, Bauchi and Delta states; and build, equip, maintain, and operate an oncology Centre for advanced radiotherapy treatment.
The investments are expected to build new and upgrade these institutions to modern medical centres and significantly enhance Nigeria’s ability to treat Non-Communicable Diseases (NCDs).
Speaking at the event, the NSIA Boss, Mr Uche Orji said the investments will provide access to advanced healthcare services for the benefit of lower-income families with limited access to care
He said the programme was created having identified critical infrastructure gaps through a comprehensive assessment of the sector and is aligned with the NSIA Healthcare Investment and Development Company’s (NHDIC) strategy to invest in the sector through the establishment of diagnostic centres and tertiary healthcare centres.
According to the him, the enhanced diagnostic capabilities will improve medical intervention in the country and in the respective catchment areas of the partner Federal Teaching Hospitals.
When these centres become operational, he said they will deliver additional development impact for Nigerians through the provision of high-quality, affordable, and accessible healthcare
The proposed projects present a disruptive healthcare strategy, as it will bring about the provision of high quality, affordable and accessible healthcare to the local market, as well as development/training on the required clinical resources in Nigeria and bring quality healthcare to many.
By Tony Obiechina, Abuja
The Infrastructure Concession Regulatory Commission (ICRC) says it will henceforth issue Outline Business Case (OBC) Certificate of Compliance and the Full Business Case (FBC) Certificate of Compliance within seven days.This follows the charge by President Bola Ahmed Tinubu to the Director General of the Commission, Dr Jobson Oseodion Ewalefoh “to accelerate investment in National Infrastructure through innovative mobilization of private-sector funding”.
President Tinubu also charged him to work assiduously to boost infrastructure development in Nigeria as part of the renewed hope agenda of the current administration.In view of the above, Dr Ewalefoh-led management team of the ICRC has streamlined the approval processes of the commission to issue its certificates of compliance within seven days. This will accelerate the turnaround time for approvals by the Commission.“In line with the charge of His Excellency, President Bola Ahmed Tinubu, GCFR, and following his Renewed Hope Agenda, we have streamlined and updated our approval processes to issue either of the Outline Business Case Certificate of Compliance (OBC) and the Full Business Case Certificate of Compliance (FBC) to Ministries, Departments and Agencies (MDAs) that meet the requirements within seven days.“This is part of efforts by the current administration to accelerate infrastructure development, bridge the infrastructure gaps and stimulate the economy through investment of private sector funds in Public Private Partnership endeavours.“By streamlining our processes, the Commission is in no way foregoing any of its stringent approval steps or key requirements, therefore, only business cases that are viable, bankable, offer value for money and meet all other requirements will be approved.“The ICRC cannot do it alone, therefore I implore all chief executives of MDAs to match our momentum and align with this charge of Mr. President to accelerate Infrastructure development and ensure that PPP projects are not stalled at any point but delivered within record time.“The Commission is ready to partner and collaborate with all MDAs to actualize this,” he said.In a statement by Ifeanyi NwokoActing Head, Media and Publicity on Monday the ICRC DG in August rolled out a six-point policy direction which among others, focused on accelerating PPP processes, boosting inter-agency collaboration and ensuring innovative financing.The ICRC was established to regulate Public Private Partnership (PPP) endeavours of the Federal government aimed at addressing Nigeria’s physical infrastructure deficit which hampers economic development.
By Tony Obiechina, Abuja
The federal government in the second quarter of 2024 generated a total of N1.56 trillion from Value Added Tax. This is a 9.11 percent increase from the N1.43 trillion in Q1 2024.
According to the National Bureau of Statistics report, local payments recorded were N792.
58 billion, foreign VAT payments were N395. 74 billion, while import VAT contributed N372. 95 billion in Q2 2024.“On a quarter-on-quarter basis, human health and social work activities recorded the highest growth rate with 98.44%, followed by agriculture, forestry and fishing with 70.26%, and water supply, sewerage, waste management and remediation activities with 59.
75%,” NBS reported.“On the other hand, activities of households as employers, undifferentiated goods and services producing activities of households for own use had the lowest growth rate with 46.84%, followed by Real estate activities with 42.59%.
“In terms of sectoral contributions, the top three largest shares in Q2 2024 were
manufacturing with 11.78%; information and communication with 9.02%; and Mining and quarrying with 8.79%.
“Nevertheless, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00%, followed by activities of extraterritorial organisations and bodies with 0.01%; and Water supply, sewerage, waste management and remediation activities with and real estate services 0.04% each.
“However, on a year-on-year basis, VAT collections in Q2 2024 increased by 99.82% from Q2 2023.”
By Tony Obiechina, Abuja
Development Bank of Nigeria (DBN) has conferred its 2023 Award for Microfinance Bank with the Highest Impact on Start-Ups on Richway Microfinance Bank in recognition of its unwavering commitment to fostering entrepreneurship in the country.The award also attests to the micro lender’s dedication to empowering small businesses and driving economic growth through innovative financial solutions.
Since its inception, Richway Microfinance Bank has been at the forefront of providing accessible financial services to underserved communities. The bank’s focus on start-ups, particularly in the challenging economic landscape of Nigeria, has set it apart as a leader in the microfinance sector. By offering tailored loan products, savings and investments products with high returns, and business advisory services, Richway has enabled countless entrepreneurs and business owners to turn their ideas into thriving businesses.In 2023, the bank’s impact on start-ups was particularly profound. Through strategic partnerships and an in-depth understanding of the unique challenges faced by new businesses, Richway Microfinance Bank extended its reach, offering critical support to over 500 start-ups.These initiatives not only provided much-needed capital but also helped entrepreneurs and business owners build sustainable business models, manage risks, and scale their operations.Speaking on the award, the Managing Director of Richway MfB, Adenrele Oni, said the “DBN’s award represented a significant milestone for Richway in its sustained efforts to boost Nigeria’s economy and reflected the bank’s role in driving innovation and entrepreneurship, which are key drivers of Nigeria’s economic diversification efforts.”According to him, the award also underscores the importance of microfinance institutions in bridging the financial inclusion gap, particularly for small businesses that often struggle to access traditional banking services.While thanking the DBN’s management on the recognition of the micro lender’s support for MSMEs in 2023, Oni reiterated the bank’s commitment to continuing its mission of empowering entrepreneurs and contributing to Nigeria’s economic development.He assured: “As Richway Microfinance Bank celebrates this achievement; it remains focused on the future, with plans to expand its offerings and reach even more start-ups in the coming years.”
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