Nigeria Signs $1 Billion Health Care Partnership with Afreximbank


In a significant move to bolster the healthcare sector, Nigeria has inked a strategic partnership agreement worth $1 billion with the African Export-Import Bank (Afreximbank). The partnership aims to unlock essential resources in terms of investments, human capital, research, and more within the healthcare value chain.

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The Memorandum of Understanding (MOU) was signed in Abuja by Ali Pate, Coordinating Minister of Health and Social Welfare, representing the federal government, and Benedict Okey Oramah, President of Afreximbank. The agreement was formalized during the inaugural African Health Forum 2024, hosted by the African Medical Centre of Excellence (AMCE Abuja), a cutting-edge medical facility being constructed by Afreximbank in partnership with the Kings College Hospital, London.

The AMCE Abuja, boasting a 500-bed capacity, will offer a wide array of medical services and specializations, including oncology, cardiology, hematology, and general care capabilities. Additionally, it will provide comprehensive medical services encompassing diagnostics, treatment, nuclear medicine, surgery, and post-surgical care.

Pate emphasized that the MOU signifies a commitment to initiatives aimed at enhancing the health ecosystem through the $1 billion healthcare value chain program. The program encompasses financing support, infrastructure development, human capital development, research and innovation, policy, regulatory and quality improvement efforts, market access, investment promotions, and environmental sustainability initiatives.

Oramah hailed the signing as a landmark event, emphasizing the collaborative effort required to realize such ambitious healthcare projects. He underscored the AMCE Abuja’s role as a leading center for medical research and development, offering comprehensive medical experiences and training opportunities for physicians and medical students.

The partnership between Nigeria and Afreximbank marks a significant step towards strengthening the country’s healthcare infrastructure and fostering innovation and development in the sector.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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