The House of Representatives has passed for second reading of a bill for an Act to establish the Nigerian Health Infrastructure Development Bank.
The bill will provide a single digit capital for the development of the health sector beyond budgetary appropriations.
The bank when established will provide single – digit capital for the development of the health sector beyond budgetary appropriations.
The share capital of the bank will be subscribed by the FGN through FMOF, regional and international banks.
Sponsor of the Bill, Mansur Soro explained that Nigeria would be underfunding the health sector in the 2021 fiscal year by 1.4 trillion Naira with the budgetary allocation to the sector in the 2021 appropriation Bill which stood at 564 billion Naira.
The lawmaker noted that Budgetary provisions in the public sector alone cannot address the existing infrastructural gaps in the country’s health sector.
He said the Covid-19 pandemic has exposed the weaknesses of the country as a nation and brought to fore the infrastructure deficit in the health sector.
He said; “The Budgetary allocation to health sector as proposed by the Executive in the 2021 appropriation Bill is put at N546bn representing 4.18% of total budget size. In the context of Abuja declaration which require member countries to allocate 15% minimum of the total budget, Nigeria will be underfunding the health sector in the 2021 fiscal year by N1.4trn.”
Soro urged the government to think outside the box in providing the enabling environment for the private sector to come in.
“There is a general consensus among policy analysts that budgetary provisions alone cant address the existing infrastructural gaps in the health sector. Therefore the Government must think out of the box in providing the required enabling environment for the private sector to come in,” the lawmaker added.
Mercy Chukwudiebere
