Good health is key factor in driving economic progress — NESG

According to the Nigerian Economic Summit Group (NESG), investing in health can serve as a driving force behind economic expansion.

This was said in a press conference held in Abuja by Mr. Tayo Aduloju, the group’s Chief Executive Officer (CEO) Designate.

Aduloju cites data indicating that investing one dollar in health produces a two to four dollar economic return in poor nations like Nigeria.

However, he stated that Nigeria continues to have some of the highest rates of maternal death worldwide, with over 50,000 women passing away annually from problems connected to pregnancy and a maternal mortality ratio estimated to be between 500 and 1,047 deaths per 100,000 live births.

The number, he continued, is higher than the worldwide goal of 70 deaths for every 100,000 live births.

“Maternal mortality is generally accepted as an indicator of a country’s health system,” he continued.

“This suggests that despite the government and donor agencies’ admirable efforts, we still need to develop bridges that will improve everyone’s health outcomes.”

The CEO-designate added that inclusive health policies and programmes, trade, and gender equity are essential for sustainable development.

He asserts that trade has the ability to transform the lives of individuals, groups, and even countries.

According to him, one of the most important aspects of human development is health, which is defined as the entire state of one’s physical, mental, and social well-being.

“Trade and health have a significant impact on a nation’s overall development, labour productivity, and rate of economic growth,” he stated.

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We observe how physical and financial access to health services is restricted by growing healthcare prices, failing infrastructure, a shortage of necessary medications and equipment, and the exodus of skilled medical personnel.

“Discussions regarding economic prosperity, especially in developing economies like Nigeria, must include health as an investment for economic returns.”

Aduloju added that different policies and trade agreements have different effects on health determinants.

However, he stated that in order to promote the development of a society that is inclusive of both genders, it is imperative to take into account the disparate effects that trade, investment, and health policies and interventions have on men, women, and vulnerable groups.

He stated that women’s access to markets and resources is still restricted, despite the fact that they make substantial contributions to informal trade.

He continued by saying that the Gender and Inclusion Summit 2023 is a two-day event that was arranged by the Policy Innovation Centre (PIC), an initiative of NESG, in light of the harsh reality.

PIC’s Executive Director, Mrs. Osasuyi Dirisu, gave an explanation of how the summit will look at ways to promote inclusiveness and gender equality.

“This is achieved by utilising trade’s potential to enhance economic engagement, lessen disparities, expand access to opportunities, and develop creative ways to close the financing gaps in healthcare and increase access to high-quality healthcare services,” the speaker stated.

The PIC, she continued, would offer an open forum for discussion with a broad spectrum of stakeholders by elevating the voices of the most marginalised and collaborating to develop creative solutions to close the nation’s inequality gaps.

She said that the summit would take place in Abuja on 28 and 29, with the theme being “Building Bridges: Advancing Gender and Inclusion through the Intersection of Trade and Health.

NAN