The African Development Bank has said that Africa loses $2.4 trillion annually in terms of annual GDP as a result of the lack of investment in the health sector, just as Nigeria loses $1 billion monthly by not banning medical tourism.
AFDP, however, assured the Lagos state governor, Mr. Babajide Sanwo-Olu, that it would help him to develop the economy of the state to the 21st century economy, by developing the state health sector, and as well help Nigeria to save $1 billion Nigeria is losing monthly by not banning medical tourism.
The head of the AFDP mission to Nigeria, Mr. Babatunde Omilani, disclosed this during a courtesy visit to Lagos state governor on Friday.
He said his delegation had been in Lagos in the last 10 days to study the state health sector, and that the delegation had visited all the state medical facilities to know their challenges.
“Our reason for being here is very simple; we are here to contribute to your work in transforming Lagos into a 21st century economy. We are here to support your leadership as the executive governor. What you are doing in the executive sector, to really transform the health sector of Lagos state and make it a good economy imperative in terms of boosting the GDP of the state.
“But also in terms of contributing to the development of this country, and also in terms of sterling all ban medical tourism here in Nigeria in terms of all ban Medical tourism we are losing $1 billion every month and I think we can reverse the trend.”
“We have done serious analysis with the World Health Organisation, where we realised that Africa is losing $2.4 trillion annually in terms of annual GDP as a result of the lack of investment in health.
“We have also seen that our nominal GDP at about 2.6 trillion dollars a year means that we can actually double our economic productivity.”
Responding, Governor said he appreciated the efforts of the AFDB and urged them to make the dreams and promises become a reality, and as well to let the state know her contributions in realising the objective.
He said, “We believe in the leadership of your bank. We believe the leadership is very serious, and that is why you are here and we are happy that you have used Lagos as a test case. We want to assure you that we are not just only ready; we are business- ready; we are financing-ready, we are process-ready and in whatever form you want us to be engaged. We are not just happy to be helped out, we see it as a partnership.”