By Haruna Gimba
The President of the Healthcare Federation of Nigeria, Mrs. Clare Omatseye, said more than $1 billion dollars leaves Nigerian shores for people to seek quality healthcare abroad.
Mrs. Omatseye stated this in her welcome address at the start of healthcare financing workshop – bridging the divide between finance and healthcare.
She said Nigeria is going through a very difficult period with the country in recession in the last 6 months but in denial for over a year and a half.
“We think that there is a huge opportunity. It hurts us to hear the amount of money, the capital flight that leaves Nigeria to other countries. They say officially that $1 billion leaves Nigerian shores for people to seek quality healthcare. Actually, I have been told, authoritatively, that it’s more than double that.
“Because the $1 billion dollars that we see is the official flows through the central bank where people apply for money for their medical bills. But actually most people that go for medical attention abroad do not declare how much they spend on healthcare.
“It also shows an opportunity for us. Why? Because if you needed 10 thousand dollars to do a hip replacement in India a year ago now you know how much you need. So we’ve gone from needing a small amount to two and a half times that. So we need to be able to provide everything that is required across the whole value chain,” she said.
She added that there are challenges in government policies and the country lack enough policies that help to incentives investment in health care.
Mrs. Omatseye said: “We at the Healthcare Federation of Nigeria are working right now with the Minister of Health and the Ministry of Health and the Minister of Finance to make sure that we have incentives for those of you that want to invest in the healthcare space or to grow your business any further.
“This includes getting tax breaks, it includes getting duty waivers on medical equipment, this includes making sure that you can getting duty waivers on your raw materials for pharmaceutical industries.”
She added that it is the responsibility of private sector to get financing at a good price and present a good business project and are able to create value.
“We need to be able to tap into this $2 billion that is leaving our country every year. Let’s start with keeping 30% of it at home and then the following year keep 50% at home but this is the thrust of our meeting today. So make sure that you leave here today with all the information that you need to make you,” Omatseye concluded.
