FG DISBURSES N100BN TO LOCAL PHARMA FIRMS

The President, Major General Muhammadu Buhari (retd.), on Tuesday, said the Federal Government has so far disbursed N100bn to indigenous pharmaceutical manufacturers and healthcare investors as loans to expand their capital base and boost local production of medicines and consumables.

He also revealed that FG was addressing the ‘brain drain’ in the health sector caused by the massive exodus of medical practitioners from Nigeria to other countries.

The PUNCH reports that over 727 medical doctors trained in Nigeria relocated to the United Kingdom between December 2021 and May 2022.

President Buhari said he had directed the Minister of Health, Dr Osagie Ehanire, to turn the “brain drain” to “brain gain” by engaging top Nigerian medical experts in the Diaspora in knowledge and skills repatriation.

According to a statement signed by his Special Adviser on Media and Publicity, Femi Adesina, Buhari said this when he received the new executive members of Nigerian Medical Association, at the Presidential Villa, Abuja.

The statement was entitled ‘President Buhari hosts new NMA Exco, says FG disburses N100b to indigenous pharma manufacturers.’ According to him, the loan was extended through the Central Bank of Nigeria to the private pharmaceutical sector. Although the statement did not specify the duration or timing of the loan disbursement, it is believed to be part of the FG’s intervention fund to various sectors of the economy at the height of the Covid-19 pandemic.

https://punchng.com/fg-disburses-n100bn-to-local-pharma-firms/

 

 

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