The Federal Executive Council (FEC) has approved $1.07 billion investment aimed at transforming Nigeria’s health sector through the Human Capital Opportunities for Prosperity and Equity (HOPE) program. This is alongside a crucial N4.8 billion commitment to HIV treatment, underscoring the government’s renewed focus on health.
The announcement, made Monday by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, follows approval for funding provided by the World Bank’s concessional financing arm, the International Development Association (IDA), which is contributing two loans of $500 million each, along with $70 million in grant funding from international donors.
Read also: FEC approves N4.2trn for road infrastructure, to complete 2nd Niger bridge
Muhammad Ali Pate, the coordinating minister of health and social welfare, highlighted the key goals of this financing, which aligns closely with the government’s agenda to advance human capital development. The funds will be used to improve healthcare governance, strengthen primary healthcare across the nation, and focus on recruiting, training, and retaining healthcare workers and educators at the grassroots level.
This transformative funding is set to drive long-term improvements in Nigeria’s healthcare infrastructure, reinforcing the country’s commitment to better health outcomes for all.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
