Bank of Industry
The Bank of Industry has reaffirmed it’s commitment to ensure Nigeria’s healthcare sector is revamped through investments privilege to curb medical tourism as well as brain drain among health professionals.
This was contained in a statement released by the bank on Sunday.
The statement noted that Nigeria continues to lose billions of naira annually to medical tourism, as citizens travel abroad for treatments.
It noted that if the right infrastructural facilities and expertise were available, treatment could be accessed locally, adding that the exodus of healthcare workers has further strained the country’s medical system, calling for urgent, sustainable reforms.
The Executive Director, Large Enterprises, at BOI, Ifeoma Uz’Okpala while speaking during an inspection of a Nisa Premier Hospital project by the Senate Committee on Industries, said the initiative marks a significant milestone in the bank’s long-standing relationship with the healthcare provider.
The hospital project, located in Maitama, is being supported by the bank through a development finance facility.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, had revealed that between 2010 and 2020, Nigerians spent about $40bn on foreign education expenses and medical treatment abroad.
While foreign education expenses amounted to $28.65bn, the CBN governor said medical treatment abroad incurred around $11.01bn.
Uz’Okpala said the Nisa Premier hospital project was transformational as it would support the economy in the area of conserving foreign exchange due to medical tourism.
She said, “We started funding them when they were just a small clinic,” she said. “Today, we are proud to support the development of this world-class tertiary medical facility. It is a project that will not only save foreign exchange by discouraging Nigerians from seeking treatment abroad but also help stem the tide of brain drain.”
Uz’Okpala noted that the facility boasts cutting-edge technology and medical infrastructure comparable to international standards.
“Once you step inside, you will see why this will make a difference. We are investing heavily in hospitals now, and this is one of our proudest projects,” She said.
Also speaking, the Chairman, Senate Committee on Industries, Senator Francis Fadahunsi, commended the quality of the hospital and its potential to position Nigeria as a hub for medical excellence in Africa.
“When completed, this hospital will reverse the trend of medical tourism. Instead of Nigerians going abroad for treatment, we will begin to receive patients from other countries.
“Facilities like this will also encourage Nigerian doctors practising overseas to return home,” he said.
The Bank of Industry’s intervention is seen as part of a broader push to enhance industrial and human capital development through targeted investment in key sectors.
About the Author
