How FG plans to end N500 billion annual medical tourism – Mohammed

The Federal Government has stated that CBN’s N200 billion Healthcare Sector Intervention Fund and the Nigeria Sovereign Investment Authority’s investment in private and public healthcare is beneficial towards reducing N500 billion healthcare tourism by Nigerians.

This was disclosed on Tuesday by Minister of Information and Culture, Alhaji Lai Mohammed at a media tour of Duchess International Hospital, a 100-bed modern health facility constructed through the funding from the Central Bank of Nigeria (CBN) and the Bank of Industry (BoI).

The Minister stated that funding from the FG into private healthcare will also make Nigeria a location for global medical tourists.

Lai Mohammed revealed that with more world class healthcare facilities like Duchess Hospital coming on stream, Nigeria is set become a destination for medical tourists, adding that Nigeria will welcome foreign patients and medical personnel on its shores rather than having its citizens travel yearly and spending more than N500 billion for medical tourism.

He said, “We as a country will also conserve our foreign reserves while earning foreign exchange, we will begin to reverse the brain drain in the health sector; create jobs and provide affordable and standard healthcare for our people.

“Of course, facilities like Duchess International are veritable tools for job creation, in addition to attracting medical tourists from across the world.

“Its a new dawn for the health sector and we are proud of what Duchess and other healthcare facilities are doing in bringing about this new dawn.”

He stated that the facility was private-sector driven, citing that the Federal Government provided the enabling environment and funding for its realization, through the launch of the CBN’s N100 billion Healthcare Sector Intervention Fund, which was later expanded to N200 billion to provide credit support for the healthcare sector through long-term, low-cost financing.

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