Health minister reveals over 70 healthcare firms to execute projects 

The Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, has announced that over 70 new healthcare manufacturing companies with robust projects are set to execute 22 large-scale initiatives in Nigeria.

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Pate disclosed this in a message posted on his X handle on Friday.

He also revealed that more than 10 value chain verticals have been established within the country, highlighting that these milestones align with President Bola Tinubu’s commitment to transforming the health sector from a consumption-driven model to one that creates jobs and enhances economic value.

In October 2023, President Tinubu launched the Presidential Initiative to Unlock the Healthcare Value Chain and appointed Dr Abdu Mukhtar as the National Coordinator.

The initiative aims to increase the local manufacturing of pharmaceutical products to at least 70 per cent of national consumption by 2030 and expand the workforce in the life sciences manufacturing sub-sector to at least 50,000 full-time employees from the current estimated 20,000, among other objectives.

Since the initiative’s establishment, Pate noted that the President has signed an executive order to stimulate domestic production of pharmaceuticals, test kits, medical textiles, and consumables.

“While it is important to acknowledge that some initial implementation challenges occurred, these have now been collaboratively resolved with all key stakeholders. I am pleased to report that this policy is now positioned to achieve its intended objectives,” Pate stated.

He highlighted substantial progress, including securing investment commitments. “To date, we have a line of sight to significant investments, including financing from the European Investment Bank and a $1 billion Memorandum of Understanding with Afreximbank to support both incoming and domestic manufacturers in the health and life sciences sectors.”

Pate added that the Presidential Initiative has inspired five development finance institutions to collaborate on dedicated financing platforms to unlock Nigeria’s healthcare value chain.

He also noted that over 70 healthcare manufacturing companies with solid business cases are in active discussions to execute 22 large-scale projects. “More than 10 value chain verticals have been established in-country, including the manufacturing of rapid diagnostic test kits. This effort is exemplified by our MoU with South Africa-based Abbott Diagnostics, which is already producing in Lagos,” he said.

Pate confirmed that Abbott has agreed to establish a plant in Nigeria to manufacture rapid test kits for malaria and other diseases.

Additionally, he highlighted investments in medical oxygen through a partnership with the Global Gases Group, which is establishing a cryogenic air separation plant in Nigeria. He also referenced a recent agreement with Siemens Healthineers to establish an ultrasound assembly plant in the country.

PUNCH/Wumi