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NSIA to invest $200m in world-class hospital, 20 others, across Nigeria- Orji

The Nigerian Sovereign Investments Authority, NSIA, said it 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 Authority is also developing 20 various health projects, in the areas of Cancer, radiology and diagnostics, across the country to support the nation’s comatose health sector as part of its health intervention initiatives

Uche Orji, managing director of the Nigerian Sovereign Investment Authority, stated this while speaking at the Media chat by the Presidential Media team, at the State House, Abuja, on Thursday.

The NSIA was established by the federal government in 2012, as a multipurpose investment 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 percent 36.2 percent, 17.8 percent and FTC 0.16 percent 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, with a total contributions of $1.7b, made up of initial contributions of $650m, $265m, and the recently recovered $311m Abacha looted funds which was transferred to the agency.

Read also: ‘NSIA recorded unprecedented outcomes despite pandemic’

The NSIA has already built three world class Cancer center at the Lagos University Teaching Hospital and two radiologist diagnostics centers in Kano and Umuahia.

Orji said the NSIA health sector initiatives are being managed by its health care investment company.

“ I am happy to report that those centers are working successfully.

“At the moment, these three projects are doing quite well.

“ Our objective now is to build 20 more of these 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, and then our flagship program is our world class hospital that we are building here in Abuja that will be a center for advanced medicine.

Speaking on infrastructure development, Orji said the $1.7b Presidential Infrastructure Development funds PDFI, are being channeled into the ongoing Lagos to Ibadan road, the 2nd Niger bridge, the Abuja to Kano road and the Mambilla hydro power projects.

He disclosed that 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”

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