In a groundbreaking development, the Government of Enugu State has partnered with a group of Nigerian medical professionals in the diaspora to establish a state-of-the-art medical city valued at over $300 million. This ambitious project aims to position Enugu as a premier hub for medical tourism across the African continent.
The agreement stipulates that Enugu State will provide 100 hectares of land for the project, in return for a 10 percent equity stake in the Special Purpose Vehicle (SPV) set up for the development of the medical city.
During a welcoming event for the executive and management team of African Medical City, mostly comprised of Nigerian doctors based abroad, Governor Peter Mbah emphasized the significance of this project. He assured that the state government would promptly fulfill its obligations to ensure the initiative’s timely completion. Governor Mbah highlighted the pressing need for modern medical facilities, noting that Nigerians currently spend over $1 billion annually on medical tourism.
“What we are witnessing here today is monumental, and we cannot take the value and the significance of it for granted. This is in line with the humongous promise we made to our people during our campaign for office to grow our GDP exponentially from $4.4 billion to $30 billion,” Governor Mbah stated.
He further explained, “We recognized that a lot of that growth will come from the private sector; and we also recognized that it has to be enabled by the government. So, our strategy was to have a government-enabled, but private sector-driven economy.”
Governor Mbah expressed enthusiasm about the investment, emphasizing the state’s commitment to making Enugu an attractive destination for investors by ensuring transparency, accountability, and integrity throughout the process.
Dr. Ethelbert Nwanegbo, Chairman of African Medical City, praised Enugu’s investment climate and ease of doing business as key factors that attracted the group to the state. “What we are trying to do here is to establish a medical city. A medical city is not just a medical building, to be sure. So, when we think of Africa, we think of Nigeria and think of yesterday,” Dr. Nwanegbo explained.
Dr. Uchenna Ogbozor, President and CEO of African Medical City, assured that the organization is ready to commence work immediately. “African Medical City is a big organization, and we have 21 members as it stands today. So, I want to commend our members, including those that are not here, for their financial commitment and capabilities. We are looking at this investment to be an over $300 million investment. The government is giving us 100 hectares of land, representing 10 percent of the investment,” Dr. Ogbozor said.
Also present at the event was Mr. Joseph Michael Budetti, a financial advisor to the African Medical City project.
This partnership marks a significant milestone in Enugu State’s development strategy, promising to transform the region into a leading center for medical excellence in Africa.
