The African Export-Import Bank (Afreximbank) and the Nigerian National Petroleum Company Limited (NNPCL) last Wednesday announced a partnership where the NNPCL is set to become an equity investor in the African Medical Centre of Excellence (AMCE) in Abuja......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The AMCE is a multi-specialty medical institution developed by the African Export-Import Bank (Afreximbank) and King’s College Hospital, London.
The world-class healthcare facility is under construction in Abuja and is set to commence operation on June 5, 2025.
Last year, the Equity Investment Term Sheet agreement with the African Finance Corporation (AFC), to facilitate the commitment of up to $40m from AFC towards developing the AMCE Abuja.
According to Afrexim President, Benedict Oramah, the AMCE initiative was born out of the urgent need to address the inadequacies in healthcare facilities, particularly in dealing with non-communicable diseases.
It is believed that the medical facility will revolutionise healthcare in Nigeria and West Africa as it specialises in the treatment of oncology, hematology, and cardiology diseases.
The AMCE which is currently in its construction and operational phases, has already generated approximately 3,000 jobs.
In an explainer on the partnership, the state-owned company’s Chief Corporate Communications Officer, Olufemi Soneye shared 10 highlights of the NNPC-Afreximbank partnership and benefits.
NNPC which has been in the forefront of providing medical care for Nigerians as part of its Corporate Social Responsibility (CSR) highlighted that the AMCE will be a 500-bed hospital specialising in oncology, hematology, and cardiology, addressing critical healthcare needs in Nigeria and West Africa.
The firm said the investment is strategic with the aim of improving medical services in Nigeria.
The NNPC explained that the equity investment will increase access to specialised healthcare for Nigerians.
The NNPC argued that the equity investment in the healthcare facility will add to job creation and economic growth in Nigeria.
The state-owned company highlighted how the AMCE will leverage Technical Partnership with King’s College Hospital (KCH), UK to provide world class healthcare for Nigerians.
According to the NNPC, the AMCE will provide improved medical training and knowledge transfer which Nigerians will be major beneficiaries.
NNPC said its investment in AMCE will promote public-private sector collaboration for health sector development.
The AMCE, according to the NNPCL, will reduce medical tourism and forex outflow especially in the midst of the country’s foreign exchange instability.
It further explained that the equity investment in the medical facility will strengthen Nigeria’s position as a regional medical hub.