Health
Fidson in Capital Market to Borrow Fresh N3bn from CP Sales
By Aduragbemi Omiyale
One of the leading drug manufacturers in Nigeria, Fidson Healthcare Plc, has gone to the capital market to source about N3 billion through the sale of commercial papers.
Business Post reports that it is Series 11 of the company’s N25 billion commercial paper programme aimed to diversify funding sources for its business operations.
The capital market offers business owners an avenue to get money to run their operations at lower interest rates compared with funds from commercial banks.
Fidson has previously accessed funding through the capital markets, having issued a N5 billion 210-day and 270-day commercial paper in December 2023.
A month earlier, it issued N5 billion 181-day and 269-day commercial paper to investors in the Nigerian capital market.
In March 2023, it was at the market to raise N5 billion from the same avenue through 269-day commercial paper, and in June 2022, it sold N3 billion 270-day commercial paper after it sold N2.15 billion 90-day commercial Paper in December 2021, and N4.5 billion 270-day commercial Paper in March 2021, a N2.3 billion rights issue in July 2019, and a N2.0 billion five-year secured fixed rate corporate bond in November 2014.
This time, it wants the N3 billion commercial paper through a 265-day tenor at a discount rate of 22.58 per cent. Subscription for the exercise opened on Wednesday, July 17, 2024, and will close on Tuesday, July 23, 2024.
The minimum subscription is N5 million and multiples of N1,000 thereafter, with proceeds to be used for short-term working capital requirements.
Fidson is engaged in the manufacturing, marketing, and sales of pharmaceutical and healthcare products in Nigeria and West Africa.
It currently has over 250 duly registered pharmaceutical brands, across different therapeutic areas, in the Nigerian market.
For the year ended 2023, the company recorded N53.1 billion in sales, 31 per cent higher than the N40.6 billion recorded in the previous year.
The firm boasts a wide range of over 150 high-quality, unique and innovative products that cover therapeutic areas ranging from infectious diseases, cardiovascular diseases, antimalarials, antiretrovirals, psychiatry, nutrition, nutraceuticals, antitussives etc.
About 60 per cent of these are made locally and the balance is imported.
Health
Nigeria on High Alert as WHO Declares Ebola Emergency of International Concern
By Adedapo Adesanya
The Nigeria Centre for Disease Control and Prevention (NCDC) has said that although the country currently has no confirmed case of Ebola Virus Disease (EVD), it is, nevertheless, actively strengthening surveillance.
This comes as the World Health Organisation (WHO) declared the Ebola outbreak in Congo and Uganda a public health emergency of international concern, after 80 deaths were attributed to the disease.
The WHO, however, stopped short of declaring a pandemic, saying it did not meet the necessary criteria. The United Nations agency advised countries against closing borders or restricting trade.
Early symptoms include fever, muscle pain, fatigue, headache, and sore throat, and are followed by vomiting, diarrhoea, a rash, and bleeding.
In a statement by its Director General, Mr Jide Idris, on Sunday, the NCDC noted that it is also ramping up laboratory readiness, infection prevention, and public awareness efforts across the country.
He said the centre was closely monitoring the situation due to increasing regional movement across African countries and was working with relevant stakeholders, including the Port Health Services under the Federal Ministry of Health and Social Welfare, to strengthen preparedness within Nigeria’s public health system.
“NCDC is closely monitoring the situation and working with relevant stakeholders, including the Port Health Services, to ensure continued vigilance and preparedness within the public health system,” he stated.
The NCDC boss described Ebola virus disease as a severe viral illness transmitted through direct contact with the blood, bodily fluids, secretions, or contaminated materials of infected persons or animals.
He noted that the disease has an incubation period ranging from two to 21 days, while symptoms include fever, weakness, headache, muscle pain, sore throat, vomiting, diarrhoea, and, in severe cases, unexplained bleeding.
Recall that Nigeria gained international recognition for successfully containing an Ebola outbreak in 2014 after an infected traveller arrived in Lagos from Liberia.
Healthcare workers were advised to maintain a high index of suspicion for Ebola, especially in patients presenting symptoms compatible with the disease alongside relevant travel or exposure history.
Idris stressed the importance of strict adherence to infection prevention and control measures, including early identification and isolation of suspected cases, proper use of personal protective equipment, hand hygiene, and prompt reporting through established channels.
“NCDC will continue to monitor the situation closely and provide updates as necessary,” he added.
NCDC advised Nigerians to remain calm, maintain good hand hygiene, avoid misinformation, and report unusual illnesses promptly.
Health
NNPC Donates MRI Machine, Others to Nnewi Teaching Hospital
By Modupe Gbadeyanka
A 1.5 Tesla Magnetic Resonance Imaging (MRI) machine has been donated to the Nnamdi Azikiwe University Teaching Hospital (NAUTH), Nnewi, Anambra State, by the corporate social responsibility arm of the Nigerian National Petroleum Company (NNPC) Limited, NNPC Foundation.
In a statement on Sunday by its Chief Corporate Communications Officer, Mr Andy Odeh, the state-owned oil organisation said the medical item was given to the healthcare institution as part of its commitment to improving healthcare access and strengthening medical infrastructure across Nigeria.
The MRI system is expected to significantly improve access to advanced diagnostic imaging services for millions of Nigerians across the South-East (Anambra, Enugu, Imo, Abia and Ebonyi States) as well as neighbouring Delta State.
The foundation also provided critical supporting infrastructure, including RF shielding systems, chillers, backup UPS systems, electrical installations, specialised imaging accessories, ventilation systems, CCTV and oxygen monitoring systems, intercom communication facilities, and other patient comfort technologies designed to ensure optimal operation of the facility.
Before now, patients requiring advanced MRI diagnostic services often faced prolonged waiting periods, exorbitant costs, and the burden of travelling long distances in search of functional imaging centres.
But it is believed that the intervention of the NNPC Foundation would provide succour to patients.
At the presentation of the items to the institution over the weekend, the chief executive of the NNPC, Mr Bashir Bayo Ojulari, represented by the Managing Director of NNPC Foundation, Mrs Emmanuella Arukwe, described the intervention as a strategic investment in healthcare access, diagnostic precision, and improved patient outcomes, noting that the facility aligns with the company’s commitment to building sustainable systems and impactful national institutions.
“The installation of the MRI in NAUTH exemplifies our commitment, as our intent is to build enduring institutions, sustainable systems and legacies. This intervention aligns with our conviction that access to quality healthcare underpins human dignity, longevity and economic productivity,” Mr Ojulari stated.
He described the company’s social investments as viable currencies that strengthen the relationship between the Company’s core mandate of providing and managing energy for Nigerians and meeting stakeholders’ expectations.
In his remarks, the Governor of Anambra State, Mr Charles Soludo, who was represented by the Commissioner for Health, Dr Afam Obidike, said the intervention would enhance safe and precise diagnosis and treatment for patients across the South-East region.
He also commended NNPC Foundation for donating the MRI facility to the state, noting that the intervention would significantly improve access to quality healthcare services for the people.
The Chief Medical Director of NAUTH, Prof Joseph Ugboaja, thanked the donor for the items, saying NNPC Foundation has demonstrated that corporate social responsibility is not just a policy statement but a lifeline for institutions like ours.
“For too long, patients in our catchment area have had to travel long distances to access this level of diagnostic precision, often at prohibitive costs. With this installation, we will eliminate that burden,” he enthused.
Health
Nigeria Launch €4.2m Initiative to Boost Capacity Against Outbreaks
By Adedapo Adesanya
Nigeria has launched a €4.2 million programme supported by the European Union (EU) and implemented by the World Health Organisation (WHO) to strengthen the country’s capacity to detect and respond to disease outbreaks.
The initiative, known as the EU Support to Public Health Institutes in Nigeria (EU SPIN), will be carried out over four years in partnership with the Federal Ministry of Health and Social Welfare.
It is aimed at improving the performance of selected public health institutions through better coordination, faster information sharing and enhanced workforce capacity.
Speaking at the launch in Abuja on Monday, the Minister of State for Health and Social Welfare, Mr Iziaq Adekunle Salako, described the programme as a significant step towards strengthening Nigeria’s healthcare system.
“This initiative is designed to strengthen our health institutions, and it is truly a welcome development. It will improve the well-being of Nigerians, especially our vulnerable populations,” he said, noting that it aligns with the federal government’s broader health reform agenda.
Nigeria continues to face a dual health burden, with recurring infectious disease outbreaks alongside a growing prevalence of non-communicable diseases such as hypertension and diabetes.
According to the WHO, non-communicable diseases now account for 27 per cent of deaths in the country, while malaria alone contributes about 30 per cent of global malaria fatalities.
Recurrent outbreaks of cholera, diphtheria, Lassa fever, meningitis and Mpox also remain a major public health concern.
The EU SPIN programme is expected to address systemic gaps that slow outbreak response by strengthening collaboration among public health institutions and clarifying roles across federal, state and local levels.
It will also support real-time data systems to enable quicker and more informed decision-making during health emergencies.
A key component of the initiative is workforce development, with plans to train up to 75 per cent of public health staff in leadership, prevention and response strategies, as well as digital skills.
The European Union Ambassador to Nigeria, Mr Gautier Mignon, said the programme reflects a shared commitment to building resilient health systems.
“Through EU SPIN, the European Union is investing in strong, digitally enabled public health institutions in Nigeria. This partnership underscores our commitment to health security and sustainable systems strengthening,” he said.
Also speaking, the WHO Representative in Nigeria, Mr Pavel Ursu, noted that improved coordination and digital tools would enhance the country’s ability to protect lives.
“By improving coordination, skills and digital tools, the project will help protect lives and keep communities healthier,” he said.
Officials said the programme would ultimately strengthen links between public health systems and primary healthcare services, ensuring that communities benefit from faster and more effective responses to health threats.
By 2028, the initiative is expected to deliver more efficient inter-agency coordination, clearer institutional responsibilities and more reliable public health data nationwide, with progress tracked through national monitoring systems and periodic reviews involving government and development partners.
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