Opportunities rising in the Health sector: businesses to benefit from N120 billion COVID-19 relief fund

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Health-related businesses are expected to keep running and turning in revenues despite the lockdown.

The Central Bank of Nigeria (CBN) announced N120 billion Relief Fund with a large chunk coming from corporate and individual donors. Contributions are expected in both Naira and Dollars, the government having set up accounts with Citibank in UK for the latter and at the CBN for the former.

However, the interesting part is that this fund will be used to equip health facilities (testing centres, isolation centres, treatment centres, and CCUs) in the country, bringing businesses to local and foreign suppliers of beds, food, testing materials, and several other medical equipment during this lockdown. This is a ray of hope for this sector as other sectors furlough workers.

The Director, Corporate Communications, CBN, Isaac Okorafor, said yesterday, the six geoplolitical zone in Nigeria will receive some measures of medical supplies for fortification in response to the pandemic.

Okorafor said, “We have started with Lagos (1000 beds), Kano (500 beds), Rivers (210), Abuja (200 beds), Enugu (200 beds) and Borno (200 beds) and expect to be operational within 10 days)”.

He mentioned that other states of the federation such as Bayelsa, Anambra, Katsina, Ogun, Bauchi, and Plateau will also receive medical equipment in the coming weeks.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.

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