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    MarketForces Africa » MarketForces News » Reps Canvass PPP for Healthcare Financing

    Reps Canvass PPP for Healthcare Financing

    Julius AlagbeBy Julius AlagbeMarch 14, 2024 News No Comments2 Mins Read
    Reps Canvass PPP for Healthcare Financing
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    Reps Canvass PPP for Healthcare Financing

    The House of Representatives has urged the Federal Ministry of Health to develop a policy framework on Public-Private Partnerships (PPP) for healthcare financing in Nigeria.

    The call was a sequel to the adoption of a motion by Rep. Chidi Obetta (LP-Enugu state) at plenary on Thursday in Abuja.

    Moving the motion, Obetta described PPP as an agreement between government and private sector to provide essential public services through investment, risk sharing, and rewards to the public.

    He said that the Infrastructure Concession Regulatory Commission was established in 2008 to regulate Nigeria’s PPP efforts.

    The move, according to him, is to address physical infrastructure deficits and promote economic development.

    Quoting a WHO data, which ranked Nigeria’s healthcare system 157 out of 176, the lawmaker described access to healthcare as a fundamental human right and crucial indicator of sustainable economic growth.

    “The Nigerian healthcare system faces challenges such as inadequate infrastructure, limited resources, and a shortage of trained professionals, which are further exacerbated by the continuous migration of healthcare professionals.

    “Transparency PPP and service coverage will ensure that healthcare services are accessible and will address the out-of-pocket expenses, while ensuring that private sector partners meet high standards of service quality.

    “Formulating policies on healthcare services through public-private partnerships can enhance accessibility and address financing issues in Nigeria, thereby enhancing the healthcare system’s strategic and dynamic nature,” he said.

    In his ruling, Speaker of the House, Rep. Tajudeen Abbas, mandated the Committee on Healthcare Services to liaise with the ministry to develop the framework.

    He also mandated the Committee on Legislative Compliance to ensure compliance and report back within four weeks for further legislative action. #Reps Canvass PPP for Healthcare Financing

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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