Investing in human capital key to sustainable growth, social wellbeing – FG

Thu, May 9, 2024
By editor
3 MIN READ

Health

THE Federal Government says investing in human capital development is critical to laying the foundation for sustainable growth and wellbeing of the nation.

Prof. Muhammad Pate, the Coordinating Minister of Health and Social Welfare stated this at the 2024 Nigeria Development and Finance Forum (NDFF) Conference, in Abuja on Wednesday.

The News Agency of Nigeria (NAN) reports that the conference, which witnessed a high-level gathering of public, private, social, and international sector leaders, was organised by NDFF.

Pate, in his keynote address, stressed the importance of effective coordination across sectors, including health, education, and women’s affairs, to improve human and social capital.

He advocated increased investments in basic healthcare and education, particularly for girls, women and children, to maximise human capital development for inclusive growth.

He, however, noted that no nation would achieve sustainable growth and inclusive development without paying attention to health security, critical to attaining national security.

Drawing from lessons learned during the 2014 Ebola outbreak, the minister noted the strong link between healthcare resilience and national security.

Amidst global uncertainties and pandemic threats, Pate stressed the need to strengthen Nigeria’s health security for national security and economic prosperity.

According to him, the overall national stability hinges on health resilience through inclusive, community-based solutions and cross-sector coordination.

This, he said, would signal a transformative shift towards prioritising basic health infrastructure and education, particularly in underserved states.

The minister also underscored the need to address basic infrastructure needs identified by local communities.

“Significant portion of our population, particularly at the rural community level, simply require basic services to make a huge difference in their lives and livelihoods.

“These services include access to food, clean water, shelter, vaccines, protection from malaria, treatment, and prenatal and antenatal care, among others.

“Our goal of saving lives, reducing financial and physical burdens, and providing health for all Nigerians, will be achieved by addressing these needs, using a sector-wide approach with primary healthcare as the foundation.

“We recognise that the Federal Government alone cannot provide all the solutions to the country’s healthcare and social welfare challenges.

“This is why the Sector-wide Approach and Compact under the Health Sector Renewal Investment Initiative, envision a whole-of-society engagement model in addressing the challenges,” he said.

He disclosed FG’s ambitious plan to transform Nigeria’s healthcare system using digital technology and stronger collaboration between the public and private sectors.

In her remarks, Prof. Moji Adeyeye, Director-General, National Agency for Food and Drug Administration and Control, said Nigeria’s pharmaceutical industry has recorded impressive feats in local production critical national health security.

Adeyeye assured the agency’s commitment towards boosting domestic production, with emphasis on quality control and regulatory compliance.

She revealed that 20 newly registered local drug manufacturers have attained WHO compliance status, describing the feat as a milestone in Nigeria’s pharmaceutical landscape.

Mr Jide Akintunde, NDFF Director and Chief Executive Officer of Financial Nigeria International, explained that the goal of the conference was to support a transformative reform agenda for Nigeria’s economy.

“The conference aims to address fiscal policy, job creation, industry revitalization, health, and social welfare, with a focus on blue and green economies.

“There is, therefore, the need for policy support, market frameworks, and increased investments to fully realise Nigeria’s blue economy potential,” Akintunde said. (NAN)

F.A

May 9, 2024

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