CBN says it is ready to sponsor research on COVID-19, fund pharmaceutical plants in Nigeria

CBN says it is ready to sponsor research on COVID-19, fund pharmaceutical plants in Nigeria

- The CBN says it is concerned about the healthcare needs of Nigerians

- This was further informed by the recent outbreak of the COVID-19 pandemic

- The apex bank has now concluded plans on how to address the issue

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Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele, has revealed that the apex bank was partnering government at all levels and the private sector to provide sophisticated health facilities in the country to address the healthcare needs of Nigerians.

Emefiele said that such intervention had become necessary in view of the widening gap in the health service provision due to poor medical facilities across the nation, adding that it was also in response to challenges posed by the COVID-19 pandemic.

Emefiele made this known on Friday, February 5 during a condolence visit to Governor Ifeanyi Okowa of Delta state following the deaths of his father and the majority leader of the state’s House of Assembly, Mr. Tim Owhefere, who died a day earlier.

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CBN says it is ready to sponsor research on COVID-19, fund pharmaceutical plants in Nigeria
Governor Okowa has been receiving prominent Nigerians in Asaba since the passing of his father. Photo credit: @IAOkowa
Source: Twitter

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He also disclosed that the Monetary Policy Committee was working to sponsor research into pharmaceuticals on different diseases, and would in addition give funds to private sector participants in the health sector to build pharmaceutical plants in the country.

In his response, Governor Okowa commended CBN for its intervention in the country's health sector and said that any funding that would help to reduce the widening gap in the health sector was in the best interest of the many families in the country.

He thanked Emefiele for identifying with his family in this period of grief and said that they had been consoled by the fact that their late father died in Christ and also made a positive impact on society.

Governor Okowa's father, Sir Arthur Okorie Okowa, died in the early hours of Thursday, January 28.

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Late Okowa who hailed from Owa-Alero, Ika North East local government area of the state died at the age of 88 years at Asaba, the state capital.

Similarly, lawmaker Owhefere died on Wednesday night, January 27, at the Federal Medical Centre, Asaba, after being hospitalised for about two weeks.


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