The Federal Executive Council (FEC) has approved a total of $1.07 billion in financing for healthcare sector reforms under the Human Capital Opportunities for Prosperity and Equity (HOPE) program, as well as a N4.8 billion allocation for HIV treatment, signaling a major investment in Nigeria’s health sector.

The announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who disclosed that the World Bank’s concessional financing arm, the International Development Association (IDA), has provided two concessional loans of $500 million each, alongside $70 million in grant funding from other international bodies.

The Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate, elaborated on the key components of the financing, stating that the HOPE program aligns with the administration’s agenda to strengthen human capital development.
He said the funds will be directed toward improving governance in healthcare and enhancing primary healthcare services nationwide.

As part of broader healthcare reforms, the council also approved N4.8 billion for the procurement of 150,000 HIV treatment packs over the next four months.

This initiative, Pate emphasized, underscores the federal government’s commitment to providing life-saving treatment and reducing healthcare costs for vulnerable populations.

Furthermore, the FEC discussed the implications of recent U.S. policy changes on Nigeria’s health programs, particularly regarding HIV, tuberculosis, and malaria funding. A multi-ministerial committee, including representatives from the Ministries of Finance, Health, Defense, and Environment, as well as the Governors’ Forum, has been tasked with developing a transition and sustainability plan to mitigate potential funding disruptions.

In addition to health sector reforms, the Nigeria Customs Service secured FEC approval for projects worth N20 billion, including procurement of compressed natural gas (CNG) vehicles and the construction of forward bases in remote areas, alongside a N1 billion life insurance policy for officers.

With these decisions, the Nigerian government has reinforced its focus on healthcare, human capital development, and financial sustainability, setting the stage for transformative improvements in the nation’s social services sector.