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Stakeholders Heap Praises On CBN Over N100bn Intervention Fund For Health Sector

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Commendations have trailed the progress made so far by the Central Bank of Nigeria’s, CBN, N100 billion Pharmaceutical Intervention Fund for COVID-19 as N93 billion of the Fund has already been disbursed to beneficiaries.

The fund was part of proactive measures to cushion the impact of the pandemic on the economy.

According to stakeholders in the health sector, most local pharmaceutical industries, with the help of the fund, have boosted their production capacities to manufacture facemasks, personal protective equipment (PPE), hand sanitisers, gloves, antiviral drugs, ventilators, medical supplies and vaccines.

The Central Bank of Nigeria (CBN), in response to the COVID-19 pandemic, had in April 2020 taken measures to extend credit facilities of up to N100 billion to support intervention efforts geared towards the healthcare sector as well as stimulate economic activities locally within the healthcare sector.

Information from the CBN showed that N93 billion of the Fund has already been disbursed to beneficiaries and a positive impact has also been felt in the private sector as envisioned by the apex bank.

In the views of the Chairman, Pharmaceutical Manufacturers Group of Manufacturers Association of Nigeria (PMG-MAN), Dr Fidelis Ayabae every company that met the loan requirement got it.

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