The Federal Government of Nigeria has approved $1.7 billion to enhance governance and healthcare delivery through two key initiatives: the Human Capital Opportunities for Prosperity and Equity – Governance (HOPE – Governance) program and the interlinked Primary Health Care Provision Strengthening projects.
This announcement follows a statement from the Central Bank of Nigeria (CBN), which disclosed that its 299th Monetary Policy Committee (MPC) meeting, originally scheduled for February 17-18, 2025, will now be held on February 19-20. The adjustment addresses the delay in the release of the rebased Consumer Price Index (CPI) by the National Bureau of Statistics (NBS).
As the MPC meeting approaches, there is growing speculation about whether the central bank will further increase the Monetary Policy Rate (MPR), the key interest rate, in response to current economic conditions.
The MPC, the apex decision-making body of the CBN, will convene five times this year. The first meeting will now be held February 19-20, with subsequent meetings planned for May 19-20, July 21-22, September 22-23, and November 24-25. The committee’s role includes setting monetary policy, reviewing economic conditions, and maintaining price stability, which is one of the central bank’s primary mandates.
Meanwhile, the Federal Executive Council (FEC) recently approved the HOPE-Governance and HOPE-PHC initiatives, which aim to bolster Nigeria’s healthcare system. The HOPE-PHC project, driven by the Federal Ministry of Health and Social Welfare, is designed to increase the utilization of essential healthcare services, improve health system resilience, and strengthen primary healthcare delivery across the nation.
The governance reforms under the HOPE-Governance program, led by the Federal Ministry of Budget and Economic Planning, aim to improve healthcare financing, enhance transparency, and boost the recruitment, deployment, and performance management of healthcare workers at all levels of government.
The approval of these projects marks a significant step toward improving healthcare infrastructure and governance in Nigeria, with an emphasis on accessibility, transparency, and quality service delivery.