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