W’bank’s $364m, oth­ers’ll boost health in­dus­try — BMO

The Punch - - NEWS - Ka­marudeen Ogun­dele, Abuja

THe $364m Nige­ria is get­ting from the World Bank and oth­ers for malaria drug pro­duc­tion is an un­prece­dented health ini­tia­tive and a boost for lo­cal in­dus­try, the Buhari Me­dia Or­gan­i­sa­tion said on Wednesday.

The group also de­scribed it as a fur­ther proof of global trust in the abil­ity of the Pres­i­dent, Ma­jor Gen­eral Muham­madu Buhari (retd.), to ju­di­ciously utilise funds at its dis­posal.

In a state­ment signed by its Chair­man, Niyi Akin­siju, and Sec­re­tary, Cas­sidy Madueke, the BMO said the move would en­hance lo­cal ca­pac­ity in drug man­u­fac­tur­ing.

“It is a thing of joy that the Na­tional Malaria elim­i­na­tion Pro­gramme has suc­ceeded in se­cur­ing a com­mit­ment of $364m from the World Bank, Is­lamic De­vel­op­ment Bank and the African De­vel­op­ment Bank to, among oth­ers, sup­port lo­cal man­u­fac­tur­ers to pro­duce malaria drugs.

“This speaks to the com­mit­ment of the Buhari (regime) to boost lo­cal busi­nesses as well as im­prove em­ploy­ment op­por­tu­ni­ties in the coun­try.

“A break­down of the pledge shows that while the World Bank is promis­ing to give Nige­ria about $200m, IDB is pledg­ing $100m and AFDB $64m. This shows trust at a time many coun­tries are find­ing it hard to at­tract fund­ing for a num­ber of rea­sons.

“There is no doubt that this ges­ture will ex­pand lo­cal pro­duc­tion ca­pac­ity as well as en­gen­der a sense of na­tional pride in madein-nige­ria goods, which is in line with the Nige­ri­acen­tric dis­po­si­tion of the Buhari ad­min­is­tra­tion.”

The group also said the gov­ern­ment’s move was an­other step to­wards tak­ing 100 mil­lion peo­ple out of poverty in 10 years.

The group also re­as­sured Nige­ri­ans of the regime’s com­mit­ment to boost­ing lo­cal in­dus­tries and en­sur­ing job cre­ation op­por­tu­ni­ties as part of steps to put the econ­omy on a firm path to sus­tain­able growth.

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