NSIA to Invest $200m in World Class Hospital, 20 Other Health Projects Nationwide

By July 30, 2021 NEWS

The Nigerian Sovereign Investments Authority, (NSIA) has concluded plans to build a world class hospital in Abuja, as part of its plans to strengthen Nigeria’s health care delivery system.

The Agency is also developing 20 various health projects, in the areas of cancer, radiology and diagnostics nationwide to support Nigeria’s comatose health sector as part of its health intervention initiatives.

Its Managing Director, Mr Uche Orji, who stated this Thursday while speaking at the weekly Media chat by Presidential Media team, at the State House, Abuja, said the state-of-the art hospital will be located in the Federal Capital Territory (FCT).
He said: “Our flagship program is our world class hospital that we are building here in Abuja that will be a center for advanced medicine”.

According to him: “Our objective now is to build 20 more of theses centers across the country. We are starting this year with three and next year, seven and then another ten the following year. This is everything from cancer, to radiology to diagnostics.”

The MD added that NSIA had already built one world class Cancer center at the Lagos University Teaching Hospital (LUTH) and two radiologist diagnostics centers in Kano and Umuahia adding that the health sector initiatives are being managed by its health care investment company.

His words: “ I am happy to report that those Centers are working successfully. At the moment, these three projects are doing quite well”.
Commenting on the nation’s infrastructure development, Orji said the $1.7 billion Presidential Infrastructure Development funds are being channeled into the execution of ongoing Lagos to Ibadan road, the 2nd Niger bridge, the Abuja to Kano road and the Mambilia hydro power projects.

According to him, the NSIA projects considerations are driven by four major parameters, including nationwide importance, ability to attract local and international capital, projects with strong commercial and social returns and conducive legal environment for such investments.

He disclosed that the first phase of the 2nd Niger bridge and the Lagos to Ibadan expressway, will be completed in July, 2022, while the Abuja to Kano road should be completed, later this year.

“These roads have nationwide importance, we are looking to bringing in other commercial capital contributors both Pension funds, these projects will be commercial, profitable over time because, they are economic assets. That’s the only way they are going to be maintained”.

On the Presidential Fertilizer initiatives, the NSIA MD disclosed that the agency revived the domestic fertilizer production, raising the blending plants from the initial four in 2016 to current 47 blending plants across the country.

He said:”The NSIA has grown fertilizer blending plants in Nigeria from the four available in 2016, to 47 blending plants, currently, while also crashing prices from about N13,000 in 2026, to the current average cost of about N7,000″
According to him, government has through the domestic initiatives, created employment opportunities for teeming Nigerians.
The NSIA, was established by the federal government in 2012, as a multi purpose investments vehicle to manage the nation’s sovereign wealth fund.

The agency’s ownership structure is split between the federal, States and the Local governments , in the ratio 45.8%, 36.2%, 17.8% and FTC 0.16% to enhance infrastructure development, create a saving base for the future as well as provide stabilization support at times of economic stress.

The federal government had also in 2016, saddled the agency with the responsibilities of managing its Presidential Infrastructure Development Funds (PIDF) with a total contributions of $1.7 billion, made up of initial contributions of $650 million, $265 million, and the recently recovered $311million Abacha looted funds which was transferred to the agency.

Read the original article on ThisDay.