In a significant step toward providing citizens with access to world-class healthcare, the NSIA Healthcare Development and Investment Company (“NHDIC”), an NSIA Company, in collaboration with the Federal Ministry of Health (“FMOH”) today announced the execution of a joint venture and other project agreements for investments in 3 federal healthcare institutions in Nigeria namely, the Lagos University Teaching Hospital (LUTH, Lagos), the Aminu Kano Teaching Hospital (AKTH, Kano) and the Federal Medical Centre Umuahia (FMCU, Abia). Pursuant to these agreements, funds will be deployed to:
- build, equip, maintain and operate a private centre for advanced radiotherapy treatment at the Lagos University Teaching Hospital (LUTH); and
- build, equip, maintain and operate private modern medical diagnostic centres at:
- the Aminu Kano Teaching Hospital (AKTH); and
- the Federal Medical Centre Umuahia (FMCU).
Under the agreements, the Cancer Centre at LUTH will be upgraded to provide specialist care for cancer treatment while AKTH and FMCU will focus on diagnostics providing medical microbiology services, routine chemical pathology, haematology tests and advanced radiography including MRI and CT services. The investment is expected to upgrade these institutions to modern medical centres and significantly enhance Nigeria’s ability to treat Non-Communicable Diseases (NCDs).
Expectedly, the investments will assist in bridging the infrastructure gap in the healthcare sector and help reduce the burden of medical tourism which is estimated to drain over $1 billion in foreign exchange annually. Similarly, the investment is intended to provide access to advanced healthcare services for the benefit of lower-income families many of whom have limited access to care.
As part of the programme, NHDIC has procured the services of internationally renowned equipment vendors including Varian (Switzerland), Siemens (Germany), JNC International (Nigeria) and Fuji Films (Japan) to provide turnkey services including civil works, design, equipment installation and maintenance services for the centres. Each centre will run as a joint venture between NSIA and the respective tertiary hospital to ensure timely and efficient delivery of services. An aggregate investment of up to $20 million is expected to be injected into the project.
Speaking at the signing, Mr Uche Orji, MD/CEO NSIA stated that “Investing in healthcare remains a vital component of the Nigerian Infrastructure Fund strategy. The enhancement of healthcare infrastructure in these institutions will contribute to raising the quality and standard of care in Nigeria with outcomes which are consistent with the 2030 agenda for sustainable development. In addition, it will demonstrate the economic potential of healthcare investments in Nigeria and catalyze private sector participation”
Commenting on the development, the Honourable Minister of Health, Prof. Isaac Folorunso Adewole said “One of the most important aspects of healthcare is an investment in infrastructure. While the Ministry maintains the position that individuals must be empowered to track their health and encouraged to maintain positive and healthy lifestyles, it is incumbent on the government to create an enabling environment for accessible, affordable and effective healthcare services locally. This investment, though focused on Non- Communicable Diseases, is the first of many which we believe will shape the future of healthcare in Nigeria and bring quality healthcare to many”.
The Nigeria Sovereign Investment Authority, a corporate body established by the Nigeria Sovereign Investment Authority (Establishment, etc.) Act 2011, is mandated to manage funds in excess of budgeted hydrocarbon revenues. Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure and providing stabilisation support in times of economic stress. NSIA operates three mandate funds: the Stabilisation Fund, the Future Generations Fund and the Nigeria Infrastructure Fund.
For more information please visit www.nsia.com.ng
About Federal Ministry of Health
The Federal Ministry of Health (FMOH) is one of the Federal Ministries of Nigeria concerned with the formulation and implementation of policies related to health. It is headed by a Minister appointed by the President, assisted by a Permanent Secretary, who is a career civil servant. The Ministry is tasked with the mission to develop and implement policies that strengthen the national health system for effective, efficient, accessible and affordable delivery of health services in partnership with other stakeholders.
In discharging its function, the Ministry operates through and oversees several departments specializing in different aspects of health care. The ministry is also tasked with health promotion, surveillance, prevention and control of diseases.
For more information please visit www.health.gov.ng
Highlights of the Investment
LUTH: LUTH and NSIA are partnering under the existing Medical PPP programme initiated by the Federal Ministry of Health to build, equip, maintain and operate a centre for advanced radiotherapy treatment at LUTH. As part of this initiative, NSIA is considering an investment of up to US$10 million to fund the acquisition of a high-energy Linear Particle Accelerator (“LINAC”) (for external radiotherapy); a low-energy LINAC (for external radiotherapy); a Brachytherapy system (for internal radiotherapy); a CT simulator (for radiotherapy planning); and Construction/upgrading of bunkers for the two LINACs.
AKTH & FMCU: The aggregate investment of up to US$10 million will cover the design and construction of the Medical Diagnostic Centres in Kano State and Abia State, purchase of radiography equipment for the centres including a 1.5T MRI, a 160 slice CT, three digital X-ray machines, four ultrasound machines and other ancillary equipment; acquisition of supporting software and accessories, furniture and IT Equipment for the centres and power generation solutions for the centres.