The Enugu State Government and a group of Nigerian investors in the diaspora have finalized an agreement to build a state-of-the-art medical city worth over $300 million. This facility aims to position Enugu State as the hub of medical tourism in Africa by offering a comprehensive range of medical services. In exchange for providing 100 hectares of land, the state will receive a 10% equity stake in the Special Purpose Vehicle (SPV) created for the development.
Welcoming the executive and management team of African Medical City, primarily composed of Nigerian doctors based abroad, Governor Mbah assured that the state government would fulfill its commitments promptly to ensure the project’s timely completion. He attributed the estimated $1 billion Nigerians spend annually on medical tourism to the lack of modern facilities.
“What we are witnessing today is monumental, and we cannot underestimate its value and significance. This aligns with our campaign promise to grow our GDP from $4.4 billion to $30 billion,” Mbah said. “We recognized that much of this growth would come from the private sector, enabled by government support. Our strategy was to create a government-enabled, but private sector-driven economy.
“When we heard of this over $300 million investment, we knew we had to seize the opportunity. We must ensure that this investment not only takes root here but also that you become our ambassadors, marketing Enugu based on your positive experience. We are committed to transparency, accountability, and integrity throughout the process.”
Dr. Ethelbert Nwanegbo, Chairman of African Medical City, noted that the group’s interest in Enugu was driven by the current administration’s push for investment and ease of doing business. “What we are trying to establish here is a medical city, not just a medical building. When we think of Africa, we think of Nigeria and the future,” he said.
Dr. Uchenna Ogbozor, President/CEO of African Medical City, assured that the organization would commence work immediately. “African Medical City is a significant organization with 21 members. I commend our members, including those not present, for their financial commitment and capabilities. We anticipate this investment to exceed $300 million, with the government contributing 100 hectares of land, representing 10% of the investment.”
The AMC delegation also included Mr. Joseph Michael Budetti, a financial advisor.
By Ebubedike Ochu
