Five Get CBN’s N253.4mn Healthcare Research Grants
Five researchers have collected N253.4 million grants from the Health Sector Research and Development Intervention Scheme(HSRDIS) initiated by the Central Bank of Nigeria (CBN) for research into the treatment of health conditions and develop the sector’s capacity to meet the increasing demand for healthcare products and services.
The five beneficiaries who are Olufemi Emmanuel Dokun-Babalola, Okoli Ikechukwu, John Ogedengbe, Garba Uba and O’tega Ejofodomi are expected to prove the significant role expected of research and development in healthcare and also in supporting economic growth, particularly as growth was highly dependent on a strong and healthy workforce.
The grant to the five came on the heel of the 82 projects, valued at N85.89-billion, covering 26 pharmaceutical and 56 medical projects across the country that had been financed through the HSRDIS.
The apex bank introduced the HSRDIS with the release of the implementation guidelines and the inauguration of the Scheme’s Body of Experts in July 2020 in response to the coronavirus pandemic and it aims at prompting intense research and developing vaccines and drugs against the spread of other communicable and non-communicable diseases.
CBN Governor, Godwin Emefiele said the five emerged from the 68 proposals from the 286 submissions that were received and evaluated by the Body of Experts.
The five proposals by the awardees were selected after being adjudged of having the potential to enable the development of the Nigerian vaccine for COVID-19 according to the CBN Governor who described the grant award as a testimony to the significance of research and development in healthcare in economic growth.
The outbreak of the coronavirus pandemic had an unprecedented effect on the world economy, and also underscored the fact that a healthy and safe workforce remained critical for continued economic growth as well as the stability of the financial system.
Supporting the beneficiaries with the grant is seen in the right direction to move from a consumer-based economy to a more productive economy and this necessitated the CBN’s development of intervention programs and schemes across various sectors including the health sector. This also necessitated the introduction of the HSRDIS) to support the growth of the Nigerian healthcare sector.
Emefiele said the facility aimed at strengthening the sector’s capacity to meet the increasing demand for healthcare products and services, particularly pharmaceutical companies and other healthcare value chain players intending to build or expand capacity.
He congratulated the recipients of the grant award and urged them to judiciously utilize the opportunity offered to them to strive to achieve the purpose of their research by ensuring that their projects meet the set targets.
He expressed optimism that the CBN HSRDIS grant will offer average Nigerian access to the much-needed vaccines and drugs for not just COVID-19, but other communicable or non-communicable diseases.
The Secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force on COVID-19, Boss Mustapha commended the CBN for what he described as a modest effort at helping future generations to combat any outbreak of health pandemic.
He assured of President Muhammadu Buhari’s support to HSRDIS as the President had supported similar responses to curb the current COVID-19 pandemic which had exposed the fragilities of different sectors of the economy and governance. He alled for a collective resolve to overcome the challenges posed by the pandemic.
The SGF assures of the safety and efficacy of the COVID-19 vaccines and therefore urged members of the public to avail themselves the opportunity when the time arose to be vaccinated.
The Minister of State for Health, Adeleke Olorunnimbe Mamora and Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Mojisola Christiana Adeyeye, both commended the CBN for the initiative and reiterated that the HSRDIS was a step in the right direction in ensuring the vibrant and functional healthcare system as well as the socio-economic well-being of Nigerians.
Responding on behalf of the five grant award recipients, Ejofodomi appreciated the CBN for the opportunity and pledged to utilize the resources for the purpose of the grant.
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