Investing in human capital, essential for sustainable growth and social well-being – FG

Health

The federal government says investing in human capital development is critical to laying the foundation for the nation’s sustainable growth and well-being.

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

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

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

He called for increased investment in basic health care and education, especially for girls, women and children, to maximize human capital development for inclusive growth.

However, he noted that no country would achieve sustainable growth and inclusive development without paying attention to healthcare, which is critical to achieving national security.

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

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

According to him, overall national stability depends on healthcare resilience through inclusive, community-based solutions and cross-sectoral coordination.

This, he said, would mark a transformative shift towards prioritizing basic health infrastructure and education, especially in underserved states.

The Minister also underlined the need to address basic infrastructure needs identified by local communities.

“A significant portion of our population, especially at the rural community level, simply needs basic services to make a huge difference to their lives and livelihoods.

“These services include access to food, clean water, shelter, vaccines, protection against malaria, treatment and antenatal and antenatal care.

“Our goal of saving lives, reducing financial and physical burdens and providing healthcare to all Nigerians will be achieved by addressing these needs, using a sector-wide approach with primary healthcare at its core.

“We recognize that the federal government alone cannot provide all the solutions to the nation’s healthcare and social well-being challenges.

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

He unveiled 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 Adeyey, Director-General of the National Agency for Food and Drug Administration and Control, said the Nigerian pharmaceutical industry has made impressive achievements in local manufacturing that is critical to the national healthcare system .

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

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

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

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

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

FA

May 9, 2024

Tags: FG human capital social well-being sustainable growth