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SWF, ministry sign MoU for $20m cancer, kidney centres

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Uche Orji, CEO, Nigeria Sovereign Investment Authority (NSIA)

The Nigerian Sovereign Investment Authority (NSIA), operators of the Sovereign Wealth Fund (SWF) and the Ministry of Health have signed an agreement to provide tertiary health care management for cancer, kidney and other Non-Communicable Diseases (NCDs).

Under the pact, NSIA under a holding Company NHDIC, in collaboration with the Ministry of Health yesterday announced the execution of a $20 million joint venture and other project agreements for investments in three federal healthcare institutions in the country.

They are the Lagos University Teaching Hospital (LUTH, the Aminu Kano Teaching Hospital (AKTH) and the Federal Medical Centre Umuahia (FMCU). 

Funds would be deployed to build, equip, maintain and operate a private centre for advanced radiotherapy treatment at LUTH) and diagnostic centres at AKTH and FMCU in line with the terms of the agreement.

Under the agreement, the Cancer Centre at LUTH would also be upgraded to provide specialist care for cancer treatment while AKTH and FMCU would focus on diagnostics providing medical microbiology services, routine chemical pathology, haematology tests and advanced radiography including MRI and CT services.

The investment is expected to upgrade the institutions to modern medical facilities and significantly enhance their capacity to treat NCDs.

The investments would assist in bridging the infrastructure gap in the healthcare sector and help reduce medical tourism, which has been estimated to cost the country over $1 billion in foreign exchange yearly.

Similarly, the investment is intended to provide access to advanced healthcare services for the benefit of lower income families, most of who have limited access to healthcare.  

As part of the programme, NHDIC has engaged equipment vendors including Varian (Switzerland), Siemens (Germany), JNC International (Nigeria) and Fuji Films (Japan) to provide turnkey services including civil works, design, equipment installation and maintenance services at the centres.

Speaking at the signing ceremony, Managing Director of NSIA, Uche Orji, said: “Investing in healthcare remains a vital component of the Nigerian Infrastructure Fund (NIF) strategy.


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LUTHNHDICNSIAUche Orji
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