By Egena Sunday Ode
The Nigerian Sovereign Investments Authority, NSIA, Thursday said it has concluded plans to build a world class hospital in Abuja, as part of its interventions aimed at strengthening the nation’s healthcare delivery system.
The Authority said it is also developing 20 various health projects, in the areas of cancer, radiology and diagnostics, across the country to support the nation’s comatose health sector as part of its healthcare intervention initiatives
Its Managing Director, Uche Orji, stated this while speaking at the weekly media briefing by by ministries and agencies organised by the Presidential Communication Team , at the State House, Abuja.
The NSIA, was established by the federal government in 2012, as a multi purpose investments vehicle to manage the nation’s sovereign wealth fund.
The agency’s ownership structure is split between the federal, states and the local governments , in the ratio of 45.8%, 36.2%, 17.8% and FTC 0.16% to enhance infrastructure development, create a saving base for the future as well as provide stabilization support at times of economic stress.
The federal government had also in 2016, saddled the agency with the responsibilities of managing its Presidential Infrastructure Development Funds, with a total contributions of $1.7b, made up of initial contributions of $650m, $265m, and the recently recovered $311m Abacha looted funds which was transferred to the agency.
The NSIA has already built three world class cancer center at the Lagos University Teaching Hospital and two radiologist diagnostics centers in Kano and Umuahia.
Orji said the NSIA’s health sector initiatives are being managed by its healthcare investment company.
“ I am happy to report that those centers are working successfully.
“At the moment, these three projects are doing quite well.
“ Our objective now is to build 20 more of theses centers across the country. We are starting this year with three and next year, seven and then another ten the following year.
“This is everything from cancer, to radiology to diagnostics, and then our flagship program is our world class hospital that we are building here in Abuja that will be a center for advanced medicine.
On infrastructure development, Orji said the $1.7b Presidential Infrastructure Development funds PDFI, are being channeled into the ongoing Lagos to Ibadan road, the 2nd Niger bridge, the Abuja to Kano road and the Mambilia hydro power projects.
He disclosed that the NSIA projects considerations are driven by four major parameters, including “nationwide importance, ability to attract local and international capital, projects with strong commercial and social returns and conducive legal environment for such investments”
“ These roads have nationwide importance, we are looking to bringing in other commercial capital contributors both Pension funds, these projects will be commercial, profitable over time because, they are economic assets. That’s the only way they are going to be maintained”
He also disclosed that the first phase of the 2nd Niger bridge and the Lagos to Ibadan expressway, will be completed in July, 2022, while the Abuja to Kano road should be completed, later this year.
On the Presidential Fertilizer initiatives, Orji disclosed that the agency revived the domestic fertilizer production, raising the blending plants from the initial 4 in 2016 to current 47 blending plants across the country.
The NSIA has grown fertilizer blending plants in Nigeria from the four available in 2016, to 47 blending plants, currently, while also crashing prices from about N13,000 in 2026, to the current average cost of about N7,000
He noted that government has through the domestic initiatives, created employment opportunities for teeming Nigerians.
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