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FG To Invest $200m In Pharmaceutical Infrastructure

Channels Television  
Updated July 29, 2021
NSIA Boss, Uche Orji (Middle)

 

The Chairman and Chief Executive Officer of the Nigerian Sovereign Investment Authority (NSIA), Mr. Uche Orji has revealed plans by the Federal Government to invest 200million dollars in pharmaceutical infrastructure.

He made the disclosure on Thursday during a weekly briefing in Abuja, the nation’s capital.

The NSIA boss said that the funds will be used to execute about 20 projects in the health sector under the Health Intervention Initiative.

According to him, the pharmaceutical infrastructure which includes the manufacture of essential drugs, vaccines, and construction of cancer centers in the nation’s health care will be embarked upon to discontinue huge dependence on foreign logistics.

Mr. Oji equally revealed that the Nigeria Sovereign Investment Authority (NSIA) will manage a tolling system on major highways across the country including the ongoing Lagos/Ibadan express road when concessions arrangements are perfected.

He explained that the new arrangement is to enable the government to get appropriate value for investments made on road projects.

Addressing a range of issues, the NSIA boss warned that fertilizer racketeering will no longer be tolerated.

“In line with the President’s directive, anyone found culpable would be immediately apprehended and investigated by the Economic and Financial Crimes Commission.

He also affirmed that the total contract sum for the Lagos Ibadan expressway amounted to 311 billion naira, while phase one of the second Niger bridge and the Abuja -Kano Project will be completed by July 2022.