Home BusinessFG Disburses N100bn Loans To Private Pharmaceutical Companies

FG Disburses N100bn Loans To Private Pharmaceutical Companies

by Cami Ezenwa
FG Disburses N100bn Loans To Private Pharmaceutical Companies

By Tolulope Oke

According to a statement signed by Special Adviser on Media and Publicity, Femi Adesina, President Buhari said the Federal Government (FG) has disbursed N100bn to private pharmaceutical companies as loans.

The statement was entitled ‘President Buhari hosts new NMA Exco, says FG disburses N100b to indigenous pharma manufacturers.’

This was when he received the new executive members of the Nigerian Medical Association, at the Presidential Villa, Abuja.

According to the president, the funds will serve as an increase to their financial base and also increase domestic manufacturing of supplies like food and medicine.

He said that the loan was given to the private pharmaceutical industry through the Central Bank of Nigeria. Despite that, the document did not mention when or for how long the loan would be disbursed.

He also disclosed that the FG was addressing the “brain drain” in the health sector brought on by the widespread emigration of doctors from Nigeria to other nations.

+ posts

Cami Ezenwa is a writer, editor and concepts developer. He has worked with the Daily Times, Daily Independent, Financial Standard and Business Television, to mention a few.
Committed to grooming the next generation of impactful writers, he is an apostle of free flowing prose.

related posts

1 comment

Eddyanta August 11, 2022 - 8:32 am

The herbal medicine, is neglected, in our country, other countries consider it the priority.

Reply

Leave a Comment