" /> Leasing Industry Targets Nigerian Healthcare Development | Hallmarknews
Published On: Mon, Oct 9th, 2017

Leasing Industry Targets Nigerian Healthcare Development

 

By FELIX OLOYEDE

Andrew Efurhievwe, Executive Secretary, ELAN

The Equipment Leasing Association of Nigeria (ELAN), has moved to further contribute to the healthcare sector in Nigeria in line with its developmental role. The move is aimed at enhancing development contributing to the repositioning of the sector targeted at meeting the huge infrastructure and other challenges affecting the sector.

The commitment was recently expressed by the Association, during the signing of the memorandum of understanding between The Equipment Leasing Association of Nigeria (ELAN) and Swiss Biostadt Limited, a renowned healthcare equipment vendor and an ELAN member, aimed at stimulating development of the healthcare sector in Nigeria. This partnership is intended to provide players in the healthcare sector with the needed equipment, for enhanced service delivery.

Commenting on this development, the Executive Secretary of the Association, Andrew Efurhievwe, stated that Nigeria has over the years, been faced with the challenges of providing efficient healthcare services to its people. The issue is not so much about shortage of personnel but the provision of necessary equipment and other infrastructure to enhance service delivery. The consequential effects of this include avoidable deaths due to wrong diagnosis and treatment as well as huge expenditure on medical treatment abroad.

The contemporary development in the sector where technology drives most activity, and efforts concentrated on capital investment in modern equipment to meet the increasing demand of healthcare services, has necessitated the increasing need and demand for efficient medical equipment to facilitate effective diagnosis and treatment. This has forced healthcare providers to constantly match the pace of medical technology and offer optimal treatment and care despite budget constraints.

Considering the volume of funding required to facilitate substantial development, appropriate initiatives and funding mechanisms for addressing the problem must be sought. The Executive Secretary affirmed that “Leasing is considered a major financing option that can be used to facilitate access to the much needed equipment, necessary to address the infrastructure challenges and improve service delivery in the sector”.

Essentially, Leasing can provide health care institutions with easy access to state-of-the-art medical equipment that would aid their daily operations, without waiting for the accumulation of enough capital budgets to proceed with the procurement of medical equipment.

The influential benefits of leasing to these institutions include, no collateral requirement; more flexible payment options and occasionally no down payment required; frees up capital for extra expenditure; 100% or more financing which include hardware, software, installation, maintenance, training, all of which can be encompassed in the lease contract.

Indeed, leasing has gained significant global recognition as a creative financing alternative for the acquisition of capital assets. In Nigeria, it has continued to contribute to national development, creating wealth and improving the economy. In the last 10 years, the leasing industry added assets worth over N4.65trillion to capital formation in the Nigerian economy. In 2016, outstanding lease volume stood at N1.26trillion, up from N1.1trillion in 2015, representing a growth rate of 14 percent. The impactful visibility of leasing is increasing in various sectors of the economy and exhibits a brighter future given its developmental attributes.

For medical equipment vendors, leasing can be utilised as a sales aid mechanism. Reputable medical vendors across the globe have developed vendor leasing programmes through the establishment of specialised leasing companies or in partnership with other lessors.

He called on Government to embrace leasing as a major instrument for upgrading and maintaining health care facilities across the country, to facilitate Government’s initiative in creating a healthy nation, while conserving and retaining scarce foreign exchange resources for economic development.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Recent posts

  • Time is ripe for rates cut, says Rewane as inflation slows further in Oct.

    FELIX OLOYEDE This is the appropriate time for the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to cut benchmark monetary rates after inflation rate slows down for the ninth consecutive time in October, said Mr Bismarck Rewane, Managing Director, Financial Derivatives. The National Bureau of Statistics on Tuesday released Consumer Price […]

  • ELAN National Lease Conference Focuses on Revamping Nigerian Economy

    FELIX OLOYEDE In furtherance of its objective of promoting the business of leasing in Nigeria, Equipment Leasing Association of Nigeria (ELAN) has concluded plans to organise the 15th Annual National Lease Conference with focus on revamping the Nigerian economy. The conference which is the biggest gathering of stakeholders in the leasing industry is expected to […]

  • Nigeria-centric restaurant, Labule, opens new outlet in Lagos

    Labule, Nigeria-centric restaurant, operated by an indigenous company, Roots Foods Limited, offering real Nigerian local delicacies in a unique environment that combines the setting of a modern quick service restaurant with that of an African setting of a local ‘buka’, has opened a new outlet on Admiralty Road in Lekki Phase 1, Lagos. The brand […]

  • Nigerian banks shine in Ghana

    By JOHNMARK UKOKO Nigerian banks have been credited with “revolutionizing “the banking sector in Ghana, due to the many innovations they brought to Ghana’s banking sector. The Ghana Deputy Minister of Trade and Investment Hon. Carlos Kingsley Ahenkorah said in Lagos that the innovation and transformation of the Ghana’s banking sector is credited to the […]

  • Ajimobi moves to save Oyo APC from disintegration

    By OLUSESAN LAOYE The seeming crisis in Oyo APC has now forced the Governor of the state, Abiola Ajimobi, to begin consultations with stakeholders to convinced members on why they must come together as a body to face the 2019 general elections, Although the internal crisis is yet to break open as the aggrieved party […]

  • YolaDisCo sale stalled as no potential buyers emerge

    By ADEBAYO OBAJEMU Two years after the core investors of the Yola Electricity Distribution Company, YolaDisCo, declared a force majeure owing to their inability to operate under the reign of terror unleased by Boko Haram, the Federal Government is yet to find any investor interested in operating the utility company, it has been learnt. In […]

  • Company Analysis: Much Ado about Seplat

      By TESLIM SHITA-BEY The oil and gas sector has had a bumpy since the beginning of 2017 with local oil major, Seplat, seeing its financials whipped raw by prior year liabilities despite rising revenues over the nine months (9M). The company in the last two years has moved from being distinctively bad to singularly […]

  • How to start a photography business

    By ZUBAIR DANIE While photography could be accounted for as a full blown course in any offering institution of learning for professionalism, the field equally provides a platform for individuals whose passion it is to project images as a form of livelihood. The socio-cultural aspect of Nigerians that play host of events like: wedding, naming, […]

  • BOFE to celebrate unsung heroes in local communities

    OluwasolaJesuseitan, a brand and advertising expert, is an advocate of sustainable brand communications. He is also the founder, Business Owners Forum Enterprise (BOFE), a non-profit making organization, which seeks to build the capacity of business owners in and around Akute, Ogun State. He tells FELIX OLOYEDE in this interview of his organization is promoting business […]

  • Lager wars: Who wins?

    By JOHNMARK UKOKO Nigeria has many lager beer producing companies, some have been in existence for over 50 years while others are quite new in existence in the country. Some of these companies that have over the years churned out millions, if not billions of bottles of beer to Nigerian drinkers are: Nigeria Breweries Plc, […]

  • Nestle sparkles in Q3 results

    By OKEY ONYENWEAKU As the packaged Consumer goods (PCG) sector struggles to stay ahead of falling consumer demand, companies such as Nestle Nigeria plc are bucking the trend of businesses with shrinking bottom lines. Indeed the multi-product packaged goods producer has seen earnings rise to mind boggling with its pre-tax profit rising by a stunning […]

  • 2018 Budget proposals renew old anxieties

          FELIX OLOYEDE   Mixed reactions trailed the presentation of the 2018 federal government budget by President Muhammadu Buhari to the National Assembly (NASS) last week. Public policy analysts have expressed moods from the congenially positive to the outright incredulous. The staggering N8.6 trillion expenditure plan is one of the most audacious in […]

  • Anambra 2017: Obiano battles for life

    By Obinna Ezugwu The time has finally arrived. On Saturday the people of Anambra State will head to the polls to either renew the mandate of the incumbent state governor, Chief Willie Obiano who is running for a second term in office, or elect fresh hands from among other prominent contenders, including Mr. Oseloka Obaze […]

  • (Editorial) CBN’s BVN distraction and matters arising

    Nigeria’s fiscal and monetary authorities have a frustrating way of responding to the seizure of private assets; they typically gloat with glazed eyes over private citizen’s money ready to pounce on the cash like a pack of hyenas starved witless. The recent order by the Central Bank of Nigeria that customer accounts that are not […]

  • 12 Yoga tips for beginners

    The popularity of yoga has soared in the last decades, and it seems that every other friend and acquaintance of ours is already practicing it. But don’t let it fool you into thinking it is easy: yoga is quite challenging, especially for beginners. The good news is that there are some practical tips to make […]

  • Finally, embattled IGP, Ibrahim Idris, appears before Senate

    The Inspector General of Police, Ibrahim Idris, has arrived before the Senate ad hoc committee set up to investigate the allegations and counter-allegations between him and Senator Isa Misau. The IGP was accompanied by his lawyer, Alex Iziyon (SAN) and Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang.   Details […]


Visit us on Google+