The Central Bank of Nigeria (CBN) says 20 projects valued at N26.278 billion had been funded under the N100 billion credit support intervention for the healthcare industry.
CBN Governor, Godwin Emefiele who disclosed this, said the apex bank Healthcare Sector Research and Development Intervention Scheme (HSRDIS) was designed to increase Nigeria’s research and development activities to support the development of validated Nigeria-made vaccines, drugs and herbal medicines.
Also, the Secretary to the Government of the Federation (SGF), Boss Mustapha has inaugurated the Body of Experts (BoE) for the HSRDIS established by the apex bank.
The Board of Experts chaired by the Director-General, National Agency for Food and Drug Administration and Control (NAFDAC), Mojisola Adeyeye, is expected to address challenges that limit Research and Development investment in the healthcare sector.
Performing the inauguration, Mustapha noted that the current corona virus (COVID-19) pandemic had uncovered the gaps in the country’s health, governance, security infrastructure.
While commending the efforts of the CBN at addressing the flaws in the public health system through its landmark intervention, the SGF stressed that adding that the pandemic represented Nigeria with a fresh opportunity to reposition its health system and redress all the deficiencies in the sector as well as other infrastructure.
Mustapha expressed confidence in the composition of the body to deliver on the onerous task, stressing that the CBN intervention would set Nigeria’s healthcare system on the path of recovery.
Emefiele, said the Body of Experts (BOE) was established to review and evaluate submitted research proposals and provide recommendations for financing the identified R&D proposals. He further disclosed that the CBN would provide grants to biotechnological and pharmaceutical companies, institutions, researchers, and research institutes, to boost domestic capacity to curb the spread of COVID-19 and other communicable or non-communicable diseases.
