Ogun revamps healthcare system as Abiodun moves to access N2.5bn CBN intervention fund

As part of effort to revamp healthcare system in the state, especially as regards fight against Coronavirus pandemic and other infectious diseases, the Ogun State government has shown interest in accessing N2.5 billion Central Bank of Nigeria health intervention fund at a single digit interest rate for a 10-year tenor.

This was contained in an executive request submitted before the Ogun State House of Assembly where Governor Dapo Abiodun sought the Assembly’s approval to access N2.5 billion intervention fund provided by the Central Bank of Nigeria towards strengthening the state health sector to enable state government meet up with the rising demand for sound healthcare delivery and services as part of effort to ameliorate the effects of the COVID-19 pandemic and other health challenges.

Speaking during the plenary on Thursday, Olakunle Oluomo, Speaker of the House of Assembly, who read the Governor’s letter dated 12th August, 2020 before the lawmakers at the Assembly Complex at Oke-Mosan, said the correspondence was received 27th of August, 2020 and the request was in line with the programme of the present administration’s commitment at improving healthcare delivery across the state.

“In line with the program of our administration to improve health care delivery across the State, by providing effective and efficient healthcare facilities to the good people of our dear State, it becomes necessary for the State to participate in the ongoing intervention fund of the CBN which is given at a single digit interest rate for a tenor of ten (10) years, the letter partly read.

According to the Governor, the objective of the scheme which was offered at a single digit interest rate for a tenor of ten years was geared towards reducing health tourism to conserve foreign exchange, while providing long-term, low cost finance for healthcare infrastructure development that would lead to the evolvement of world-class healthcare facilities with provision of shared services through one-stop healthcare solution to enhance competition, thereby reducing the cost of healthcare delivery in the nation.