The federal government and Afreximbank on Wednesday signed a Memorandum of Understanding (MoU) for the infusion of $1 billion for the development of the healthcare value chain in Nigeria.

Also, the African Finance Corporation (AFC) and the promoters of the world-class hospital project-African Medical Centre for Excellence (AMCE) being constructed in Abuja sealed an investment deal for the execution of the project, expected to commence operations within the first quarter of 2025.

In his opening remarks at the maiden African Medical Centre of Excellence Africa Health Forum held at the Transcorp Hilton Hotel in Abuja, where the MoU was signed, President and Chairman of the Board of Directors of Afreximbank,

Prof. Benedict Oramah, said the bank was supporting Nigeria as well as other African countries in their efforts to significantly improve the healthcare infrastructure. Speaking specifically on the building of the world class hospital complex in Abuja,

Oramah said Afreximbank initiated the Confidential Tourism Programme (HMTP) in 2012, through which it intervenes across most segments of Africa’s health sector and facilitates the emergence of world-class medical infrastructure across the continent.