Connect with us

News

AfDB Supports Nigeria’s Healthcare Sector

Published

on

Kindly share this post

Nigeria’s largest healthcare market lacks an adequate supply of quality secondary and tertiary healthcare facilities with only about 700 to 1,000 quality beds for a population of over 21 million people.

It is in response to this latent situation, that the Board of Directors of the African Development Bank has approved a Senior Loan in Naira (equivalent to USD 20 million) to Santa Clara Medical Limited, to finance the development of a hospital and referral clinics in Lagos, Nigeria.

By supporting investment in healthcare infrastructure, the Bank will help the Nigerian government develop human capital through improved service delivery in the healthcare system.

“This situation currently forces over 30,000 Nigerians to spend over USD 1 billion on medical tourism for specialty treatments overseas.

Completing this project would allow the country’s healthcare sector to benefit from some of these resources” said Dr Abdu Mukhtar, AfDB’s Director of Industrialization and Trade Development.

He also added: “This is an important development. In spite of recent improvements, Nigeria’s health infrastructure remains rudimentary and insufficient to cater to the country’s growing population”.

The hospital and referral clinics will be situated in different locations in Lagos and will upon completion in 2020, provide a full spectrum of high quality general and specialist healthcare services at competitive prices.

It is expected to have positive economic and social benefits for the city of Lagos and will create around 250 temporary jobs during the construction period and 600 jobs over its operation phase.

More importantly, it will significantly improve private healthcare services by offering quality general medical services in addition to specialty services such as orthopedic, nephrology, urology, cardiology and neuro surgery that are largely unavailable in the country.

The Santa Clara Medical facility is being promoted by AXA Mansard, a member of the AXA Group, Africa Capital Alliance, IFC and Healthshare Health Solutions, the hospital management company of the project.

The facility will be a model case with strong demonstration effect for the development of the health infrastructure and services in Nigeria.

The investment is consistent with the Bank’s Private Sector Development Strategy to (i) improve Africa’s investment and business climate, especially in the healthcare sector that is currently under-served by the private sector and (ii) increase access to social and economic infrastructure on the continent.

The investment is also a reflection of the Bank’s commitment to improving the quality of life of the African people – one of the five priority focus areas of the Bank.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

UK Appoints Peter Vowles as British High Commissioner to Nigeria

Published

on

Kindly share this post

The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


Kindly share this post
Continue Reading

News

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

Published

on

Kindly share this post

World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


Kindly share this post
Continue Reading

News

PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

Published

on

Kindly share this post

As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


Kindly share this post
Continue Reading

Trending