Health Security will Increase Productivity and Economic Prosperity - FG
...to unlock the health value chain, we need to provide what we consume
... health security is key to economic stability
Emmanuel Oduara
Federal Government emphasised the need to strengthen Nigeria’s healthcare system for national security and economic prosperity amid global uncertainties and pandemic threats.
Minister of Health and Social Welfare, Prof. Muhammad Pate underscored the critical importance of investing in health resilience to ensure overall stability.
Speaking at the Nigeria Development and Finance Forum (NDFF) 2024 Conference in Abuja,
"The NDFF conference, organised to offer insights into Nigeria’s policy landscape and investment opportunities, he pointed out Nigeria's commitment to domestic policy matters and international engagement. Prof. Pate sighted the lessons learned from the 2014 Ebola outbreak in Lagos, emphasising the interconnectedness of health resilience and stability. He however appealed to both the public and private sectors for a collaborative efforts, leveraging digital technology to transform Nigeria’s healthcare system.
Giving his keynote address, Pate highlighted a visionary approach that prioritises basic health infrastructure and education, particularly in underserved areas.
"He stressed the urgency of investing in human capital and fostering consensus to drive sustainable growth and societal well-being.
"Pate however noted the need the link between healthcare resilience and national security, advocating for community-based solutions and cross-sector coordination.
Highlighting the importance of community-based approaches like the Social Action Fund, Pate underscored the need to address basic infrastructure needs in rural areas. He emphasised the role of the Federal Government in engaging with stakeholders across sectors to improve human and social capital.
"Pate called for increased investments in basic health and education, with a focus on girls, women and children, to drive economic growth and shared prosperity.
In her speech the Minister of Industry,Treda and Investment, Dr. Doris Azoka-anite who was represented by Popoola Esther Abimbola, Chief Industrial Officer, in the Ministry. Callied on all stakeholders to make a deliberate commitment towards a holistic transformative reform agenda in driving Nigeria's economic growth, as as this potential can only be realized through concerted efforts and strategic interventions to address underdevelopment.
"She stated her ministry is ready to foster an enabling environment for investment, Innovation and entrepreneurship to thrive, and also the her ministry is already implementing the revised National Policy on MSMEs(2021-2024) which will provide a rebost framework to drive growth in Nigeria.
Furthermore, she noted the Federal Government has given access to finance as a critical enabler of economic empowerment and social welfare using collaboration with development partners, financial institutions to access credit, especially for small and medium- sized entreprises(SMEs) and rural entrepreneurs.
The CEO and Director-general of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Moji Adeyeye, in her presentation outlined the agency’s role in driving economic growth and public health initiatives through a robust pharmaceutical sector.
" The agency's strong regulatory system which has helped it restructured the systems, unlock the value change to it meet up with global benchmark. Market control of substandard falsified medicines and unauthorized drug in the market, she said.
She further stated, in building people's confidence the agency have to unlock the value chain by enhancing the local regulatory oversight to improve access to medicines that are quality safety and efficacy.
She announced significant progress has bemade in the Nigeria’s pharmaceutical industry, with a focus on local manufacturing and quality control measures. Notably, 20 newly registered local drug manufacturers have attained WHO compliance, marking a milestone in Nigeria’s pharmaceutical landscape.
CEO of Financial Nigeria International and director of NDFF, Mr. Jide Akintunde outlined the conference’s goal to support transformative reform agendas for Nigeria’s economy. He highlighted the potential of the global blue economy and emphasised the need for policy support, market frameworks, and investments to realise Nigeria’s blue economy potential.
The NDFF conference aims to showcase sustainable investment opportunities worth $100 billion annually and feature discussions on unlocking Nigeria’s investment potential across various sectors. Additionally, two state governments will present their reform agendas and investment opportunities during the conference, highlighting Nigeria’s commitment to economic revitalisation and growth.
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