At the onset of the COVID-19 pandemic in 2020, the Bank introduced key interventions to strengthen Nigeria’s healthcare sector by supporting heightened demand from medical and pharmaceutical industries following the Pandemic.
The core objectives of the Bank’s interventions in the healthcare sector are to increase Nigerians’ access to affordable healthcare services, reduce foreign medical tourism, boost domestic production of critical drugs and vaccines, as well as enhance foreign exchange conservation.
Beyond supporting the resilience of the healthcare sector, the Bank's interventions have reached a significant milestone by helping to increase bed space in private and public hospitals across the country, as well as facilitating the acquisition of 59 Magnetic Resonance Imaging (MRIs) machines, 42 Computerized Tomography (CT) Scanners, and two (2) oncology machines in hospitals across the country. The CBN equally supported five (5) transnational research projects for the development of COVID-19 and Lassa fever test kits. The interventions include Healthcare Sector Intervention Facility (HSIF) and Healthcare Sector Research and Development Intervention (Grant) Scheme (HSRDIS).