By Precious Mark
The Oyo State Government has revealed that its €55 million French concessional healthcare loan carries a performance-based clause that could effectively convert the entire facility into a non-repayable direct grant as project execution progresses.
Detailing the financial terms of the loan, the Oyo state government on Tuesday, affirmed that effective deployment of the funds remains key to securing full grant conversion.
“The Healthcare Initiative Project, to be financed through a €55 million French loan, which, if judiciously utilised, will be converted into a grant,” the Oyo State Government stated.
The loan forms a central pillar of Governor Seyi Makinde’s strategic development blueprint for his second term in office.
“In the Oyo State Roadmap for Sustainable Development 2023-2027, Governor Seyi Makinde committed to strengthening healthcare delivery through the renovation and equipping of Primary Healthcare Centres, the procurement of additional ambulances, and the upgrade of secondary healthcare facilities across the State,” the administration noted.
Outlining the clinical scope of the project, authorities highlighted key specialized additions and major structural extensions underway across government hospitals.
“The project will support the modular construction and equipping of hospitals to include a Cardiac Centre, Emergency and Maternity Centres, Operating Theatres, and Intensive Care Units (ICUs),” the state government explained.
Beyond tertiary hospital upgrades, state officials confirmed that the loan covers grassroots emergency response and primary healthcare coverage.
“It will also provide 39 ambulances, 10 dental centres, and 200 Primary Healthcare Centres,” the statement added.
To guarantee equitable access across all administrative zones, emergency and maternal units are being distributed across key rural and urban centers.
“Emergency and maternity facilities will be provided in Igbo-Ora, Ogbomoso, Oyo, Moniya, Kishi, Iseyin, Okeho, and Eruwa,” the Oyo State Government stated.