D8 Anticipates $1trn Trade Boom From Health Sector, to Strengthen Nigeria’s Health System

By December 21, 2018 Investment News

The Developing- 8 organisation also known as the D-8 has said that it was optimistic it would generate over one trillion dollars from the health sector alone with the cooperation and collaboration of member states.

Dr Ado Muhammad, the Special Adviser, D8 Health and Social Protection Programme, made this known on Thursday in Abuja while appearing on the News agency of Nigeria (NAN) Forum.

Muhammad stated that this could be achieved following the D8’s new commitments of diversifying to the health sector as another area of cooperation and collaboration among member states.

He said that the D8 organisation will also be encouraging inter-trading and civil-trading between member countries in other to supersede its five million dollar set target in the sub-sector.

He observed that not much progress was made by the organisation in the health sector as it had been more involved in areas of cooperation such as agriculture, poverty alleviation, energy, amongst others.

“We should be able to see a volume of trade of over one trillion dollars or even more just from the health sector in terms of pharmaceuticals of member countries.

“There would be cooperation and collaboration in terms of product being produced and being procured by another country.

“So that within our eight member countries, virtually all we need in pharmaceuticals will be sourced from the member countries.

“D8 Organisations have been actively involved in some areas of cooperation like Agriculture, energy, poverty alleviation but, unfortunately, not much progress has been made in some other areas like health.

“Considering that the organisation is going to the next phase of development, which is implementation, the Secretary General felt that it is important that health should be looked at critically.

“We all know the vision behind D8 as an organization is to encourage economic cooperation and collaboration between member countries and how we can use our interventions to enhance the economy of member countries.

“For development to happen, for an economy to grow, it is important that health should be involved,’’ Muhammad said.

Muhammad said that to achieve economic development, the D8’s social investment programme would also be addressing the issue of social protection.

He said that the organisation would encourage porgrammes of member countries that fell under the Social Investment Programmes and would be support them.

He lauded the President Muhammadu Buhari administration for doing a lot of interventions under its Social Investment Programmes (SIP) and pledged the support of the D8.

Muhammad said that the organisation, which cuts across the continents, was working on carrying out a PEER review in terms of managing best practices from each country and how others could learn from that.

He said in line with that, the D8 would support member countries through technical assistance, resource mobilisation and very robust performance management system.

The D-8 official said that it intended to achieve all the plans through Monitoring and Evaluation framework of its health and social investment porgramme.

He further explained that the Social Investment Programme was not an independent entity, but a complimentary programme under the administrative office of the Secretary-General also geared toward economic development.

To strengthen Nigeria’s health system

The D-8 organisation for Economic Cooperation has said that it would strengthen Nigeria’s health system as part of its programmes to enhance economic development among member countries.

Dr Ado Muhammad, the Special Adviser, D8 Health and Social Protection Programme, made this known on Thursday in Abuja while appearing on the News agency of Nigeria (NAN) Forum.

Muhammad said that the organisation was targeting five areas of interventions in the health sector including expanding Primary Health Care services in Member Countries, tackling communicable diseases and tackling issues of clinical governance.

“We are looking at five areas of interventions, we are looking at how we can expand primary health care services in member countries in terms of nutrition, immunisation, tackling maternal mortality and tackling child mortality.

“These are areas that we find across board is affecting member countries particularly; there are countries like Nigeria that has high burden with regard to these indices.

“We want to see how we can tackle non communicable diseases because as economy progresses, as member countries move from high income to low income you start seeing less of infectious diseases and more of non-communicable diseases like diabetes and hypertension.

“Thirdly, we also want to tackle the issue of clinical governance and quality of care in the health system because it is one thing to have a health system and another thing to have quality health system that works.

“We will also see how we can unlock the huge potential of the health sector along the value chain between member countries.

“Ill health and poverty are interlinked; ill health and hunger are interlinked; so we want to see how to tackle those three so we have complimented that intervention with the Social Investment Programme,’’ Muhammad said.

According to Muhammad, to achieve development and economic growth, there is the need for a working and quality health care system, hence the nexus between “Development and Health’’.

He explained that realizing the importance of health as a key factor for economic development, the D8 as an organisation was diversifying to health as another area of cooperation.

He listed other areas of interventions to include unlocking the huge potential of the health sector along the value chain and Social Investment Programmes to address health induced challenges.

Muhammad pointed out that for the economy of Member States to grow, it was important to strengthen the health sector which was a major stimulant for economic development.

He also said the D8 under its health interventions would be strengthening the health system of member countries in other to achieve universal coverage as the agenda of World Health Organisation.

“We should be able to improve our health system to similar organisations like the G8 countries,’’ Muhammad added.

The D-8 Special Adviser also noted that all developed countries in the world were able to attain development by having very strong health system.

According to him, a study has shown that for every one dollar that is invested in health, you get a return of about 20 dollars in the near 10 to 15 years.

D-8, an acronym for Developing -8 countries, is an organisation for development and cooperation among eight countries: Bangladesh, Egypt, Nigeria, Indonesia, Iran, Malaysia, Pakistan and Turkey.

Established in 1997 its main objectives are to improve Member States position in the global economy, diversify and create new opportunities in trade relations and improve standards of living.

During its last summit in 2017, the D8 expanded areas of cooperation to Science and Technology, health, innovation, environment and some other issues.


Source: WorldStageGroup