Better days are here for Nigerians treating ailments such as diabetes, hypertension, heart diseases and others that require constant use of medication.
The prices of medicines, which skyrocketed as a result of naira devaluation, are about to be driven down and made more affordable.
An approval yesterday by the Federal Executive Council (FEC) of the proposal by the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, will comprehensively facilitate better pricing and availability of quality medicines.
The FEC, at the meeting presided over by President Bola Ahmed Tinubu, also endorsed the proposal that will create two million jobs through the creative industry and generate N100 billion by the Ministry of Tourism.
Another decision of the highest executive body in the country is the review of the employment policy for the first time in six years, to create room for easy access to jobs by youths.
Three ministers – Pate, Hannatu Musawa (Tourism) and Maigari Dingyadi (Labour and Employment) – briefed reporters on the outcome of yesterday’s meeting.
Head of the Civil Service of the Federation, Mrs. Didi Walson-Jack, also made known the decision on Life Assurance for Civil servants and public officers.
Pate said: “Today, Council approved MediPool, a group purchasing organisation for competitive pricing to be a supplier of essential medicines and healthcare products across Nigeria.”
He explained that MediPool will operate as a public-private partnership, leveraging the government’s significant purchasing power to negotiate better prices from suppliers.
The platform will initially serve through the Basic Health Care Provision Fund and eventually expand to federal tertiary hospitals.
“So, it’s using the monopsony power of government as a large buyer of those commodities to negotiate lower prices and then channel those commodities,” he said.
The scope of MediPool’s responsibilities includes procurement planning, supply chain and logistics management, quality assurance, regulatory compliance, financial systems, and support for local manufacturers.
It also includes capacity building and contingency planning to ensure a steady supply of affordable, high-quality drugs.
“This is a major intervention that will shape the domestic market so that the demand for quality pharmaceuticals can be channelled in a way that lowers costs, improves quality, and stimulates local manufacturing,” Pate noted.
The approval of MediPool follows President Tinubu’s signing of an Executive Order in June 2024, which provided tax and tariff waivers on the importation of raw materials for pharmaceutical production—another move aimed at encouraging local drug manufacturing.
The council also approved a contract worth N2.3 billion for the procurement and installation of a cardiac catheterisation machine at the Usmanu Danfodiyo University Teaching Hospital in Sokoto.
Pate said the advanced medical equipment will enhance the hospital’s capacity to diagnose and treat complex heart conditions such as heart attacks and irregular heart rhythms.
“The University Hospital in Sokoto will now have this capability, which will serve the population in Sokoto State, the North West geopolitical zone, and indeed the entire country,” he said.
The minister emphasised that the cardiac lab will not only save lives but also help reduce outbound medical tourism by enabling more Nigerians to access critical care at home.
“It is an important step—one more among several other interventions—to strengthen federal teaching hospitals to train and to provide quality services,” he said.
Two million jobs, N100b revenue coming
Briefing journalists after the meeting, the Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, said the Council had approved a bold new initiative to monetise Nigeria’s rich cultural and tourism assets.
According to Musawa, the plan, developed in partnership with the Ministry of Finance Incorporated (MOFI), is intended to create a new revenue stream while promoting national heritage.
“For the first time in Nigeria’s history, a standalone ministry is tasked with unlocking the potential of the cultural, creative, and tourism sectors.
“We are looking to contribute $100 billion to Nigeria’s economy by 2030 by monetising both tangible and intangible assets,” Musawa stated.
Tangible assets include national museum collections, historical monuments, landmark buildings, and federally owned artworks.
Intangible assets range from indigenous languages and oral traditions to cultural textiles like adire, culinary heritage such as Ijebu garri, and sacred landscapes and cultural festivals.
According to Musawa, the strategy is focused on self-sustaining economic growth by leveraging existing resources without placing additional pressure on the national budget.
Related News
Health, power, marine policies to boost national development, says FEC
FEC okays N787.14b, $651.7m for roads in 13 states
FEC approves ₦787.14bn, $651.7m for major road projects, dam rehabilitation
“This is about using what we already have to create wealth, identity, and pride.
“Our cultural capital is immense, and now we are putting in place the framework to monetise it responsibly,” she said.
She said the initiative will unfold in four phases: assessment of available assets, valuation, strategy development for monetisation, and implementation.
The asset verification process, she noted, has already been completed, paving the way for the next steps in collaboration with MOFI.
As part of the plan, the ministry also intends to generate at least two million jobs by 2027, particularly for youth and communities directly connected to cultural heritage.
“This is an exciting time for Nigerian identity. We’re building an economy rooted in our tradition, creativity, and talent,” Musawa added.
Review of employment policy
Minister of Labour and Employment, Alhaji Maigari Dingyadi, announced the FEC’s approval of a revised National Policy on Employment, which had not been updated in over six years.
The new policy, he said, reflects the evolving labour market and is intended to address persistent challenges of unemployment and underemployment.
“This policy is a significant step toward reducing poverty and creating inclusive economic opportunities.
“The reality has changed, and it was imperative to craft a strategy that is responsive to today’s challenges”, Dingyadi said.
He noted that the updated policy introduces fresh mechanisms to encourage productive employment and stimulate entrepreneurship across sectors.
It is also expected to serve as a key reference at the upcoming International Labour Organisation (ILO) conference in Geneva.
“We are proud to present this revised employment framework to our global counterparts.
“It signals Nigeria’s commitment to progressive labour practices and inclusive growth,” Dingyadi explained.
WARNING: If You Are Not 18+, Don’t Click The Link Below 👇🫣
https://disloyalmoviesfavor.com/m3e85u39j?key=f0014e9d9438d5115e4d66e73ca3f04b
https://poawooptugroo.com/4/8902554
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.
Never Miss A Single News Or Gists, Kindly Join Us On WhatsApp Channel:
https://whatsapp.com/channel/0029Vad8g81Eawdsio6INn3B
Telegram Channel:
https://t.me/gistsmateNG
