The Managing Director of the Nigeria Sovereign Investment Authority, Uche Orji, has explained the rationale behind the support of the NSIA for the Nigeria Solidarity Support Fund launched by the Global Citizens to cushion the effects of the Coronavirus Disease on the country and Nigerians.
Orji offered the explanation in his speech at the virtual launch of the Fund on Thursday.
According to the MD, with the NSIA’s mission as driving sustained economic development for the benefit of all Nigerians by enhancing the development of Nigeria’s infrastructure and providing stabilisation support in times of economic stress, the outbreak of COVID-19 in the country has become one of its burdens.
He said: “The COVID-19 pandemic has placed an unprecedented health, social and economic stress on our nation.
“We are thrilled to partner with Global Citizen in launching the Nigeria Solidarity Support Fund, as the Fund Manager.
“In outlining NSIA’s infrastructure investment strategy, we took a long-term approach to intervening in the healthcare sector.
“Our goal had been to create model tertiary healthcare facilities designed and equipped to international standards to reduce the foreign exchange burden of medical tourism and develop domestic expertise in tertiary healthcare.
“We have had some successes on this front notably through our three flagship projects: the Cancer Centre at the Lagos University Teaching Hospital and Advanced Diagnostic Centres at Federal Medical Centre Umuahia and Aminu Kano Teaching Hospital.
“The Solidarity Fund will enable the expansion of primary health care, thereby improving access, building capacity, and enhancing the resilience of our nation’s health delivery, especially in rural and underserved communities.
“Through this partnership, we at NSIA look forward to working with Global Citizen to innovate and transform the delivery of services to the Nigerian people in the wake of the COVID-19 pandemic.”
The Chairman of the NSIA, Jide Zeitlin, added: “It is important for us as a board and an organization to support collaborations to ensure Nigeria can respond to the COVID-19 pandemic.
“The unprecedented challenge demands that we embrace flexibility as never before on partnerships with the right organisations to help mobilise support for the fund as well as building sustainable systems in our communities.
“There will be many lessons to be learned.
“COVID-19 has shone a light on the pressing need for cross-sectoral partnerships that spark transformative systemic shifts in our health system, our food system, and beyond.
“Bringing good governance process and oversight to the fund management practice is of utmost importance to us, we will ensure that all necessary processes, procedures, resources and policies are in place within the fund management structure to allow the fund vehicle to carry out its obligations and that its operating as expected and delivering its intended outcome.”
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