The Enugu State House of Assembly on Thursday considered and approved the participation of Enugu State in the Central Bank of Nigeria national healthcare intervention fund.
All members of the State’s House of Assembly unanimously supported the State’s participation having found the intervention fund to be favourable, in the public interest, and a boost to the healthcare system.
The Central Bank of Nigeria Health Sector Intervention Fund is a facility mapped out for financing the building and expansion of healthcare facilities, as well as, acquisition of medical equipment across all States of the Federation.
In a letter signed by Prof. Simon Ortuanya Secretary to the Enugu State Government, Ref ENS/SSG/M.260/228 dated 9th June 2020, the SSG revealed that the Enugu State Executive Council seeing the exigency of the fund request for approval by way of Resolution of the House, for the State to participate in the CBN intervention.
SSG further stated, “The experience of the COVID-19 pandemic compels the strengthening of the State Health system to deliver optimal health services and effectively cope with all future public health challenges”.
According to Ortuanya, United Bank for Africa Plc, a participating Money Deposit Bank, has made an offer for a facility of N2,500,000,000.00 (Two billion, five hundred million naira) only to the State.
The two billion naira comes at a concessionary interest rate of 4.5% per annum with a 12 months moratorium on Principal sum repayment. The governing interest rate becomes 9% per annum with effect from 21st February 2021 and the maximum tenure is 10 years.
The remaining five hundred million naira at a concessionary interest rate of 5% per annum, renewable yearly for a maximum period of three years will be the working capital requirement for drugs and other hospital consumables.
While supporting the State’s participation to access the CBN facility, Jeff Mbah, member representing the Oji River constituency suggests that all Local Government Areas in the State partakes of this facility; “no community should travel more than 2kilometers just to access healthcare”.
But Chuka Eneh, member representing Udi South is of a contrary view. He said, “With the facility, government should endeavor to build and fully equip a state of the arts hospital which can compete with its counterparts in the developed world.”
In his remarks, the Speaker Edward Ubosi appreciates the CBN intervention and called on House Committee of Health to take its oversight functions seriously and see that the intervention fund is judiciously used for the outlined purpose.
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