Foreign medical treatment costs $6.23m, apart from Buhari’s medical tourism
By Jeph Ajobaju, Chief Copy Editor
Besides the cost of Muhammadu Buhari’s own medical junkets in the United Kingdom, the treasury disbursed $6.23 million for overseas healthcare services for Nigerians in the first eight months of the year ended August (8M 2022).
A report by the Central Bank of Nigeria (CBN) shows the monthly spending on foreign health-related services as follows:
- January – $0.17 million
- February – $0.14 million
- March – $0.43 million
- April – $3.02 million
- May – $0.79 million
- June – $0.42 million
- July – $0.46 million
- August – $0.80 million
The $6.23 million total cost of foreign medical treatment in 8M 2022 is more than $1.47 million in 8M 2021, according to The PUNCH.
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Forex shortage blamed for poor healthcare delivery
Stakeholders lament poor access to foreign exchange (forex) for the importation and manufacturing of essential medicines to upgrade healthcare delivery in the country, per The PUNCH.
A communique issued in September by the Association of Industrial Pharmacists of Nigeria (AIPN) listed the challenged face by the pharmaceutical industry to include
- infrastructure
- inconsistent and mismanaged government policies
- supply chain challenges
- weak industrial linkages
- weak technology and engineering base
- poor access to forex
- a lack of petrochemical industries to enable active pharmaceutical ingredients production
- inadequate incentives.
“NAIP, therefore, calls on the Nigerian government to resolve the lingering crisis in securing forex for the importation and manufacturing of essential medicines as this is becoming one of the greatest threats to the growth of the pharma industry in Nigeria,” the communique pleaded.
CBN Governor Godwin Emefiele has acknowledged a shortage of forex to meet import needs and challenged financial institutions to help find solutions.
He made the plea at the 2022 Bankers’ Committee retreat in Lagos where he disclosed collaborative programmes and initiatives of the committee have delivered tangible contributions to the economic.
“Recognising the hindrances of high inflation and foreign exchange shortages on the achievement of our national development goals, the 2022 retreat is convened to focus on the development of the local manufacturing industry and non-oil sectors, more broadly, and particularly to enhance the sector’s capacity to generate foreign exchange inflows,” Emefiele said.
“The focus is even more germane considering the enormity of the global economic turbulence, as wave after wave of negative shocks continue to ravage many countries.”