Ondo signs $1.1bn hospital project with German firm

The Ondo State government has signed a $1.1 billion Memorandum of Understanding (MoU) with a Germany-based firm, Medicus International, for the construction of a world-class medical complex in Akure.

The project, which will span 48 months for completion, will be jointly sponsored by both the Ondo State government; while the state government will contribute a hundred hectare landed facility, the German company will provide the whole of the $1.1 billion.

The MoU, which was signed in Abuja on Thursday by the Secretary to the Ondo State Government (SSG), Hon. Ifedayo Abegunde, and the Chief Executive Officer (CEO) of Medicus International, Frank Spriewald, was witnessed by the state government, Arakunrin Oluwarotimi Akeredolu.

Speaking after the signing ceremony, Governor Akeredolu said he was more than convinced that Medicus International had good intention to develop the medical infrastructure in Ondo state.

“I am more than convinced that Medicus has good intention. And as I told them when they came, I said coincidentally, about few weeks ago I was in Germany myself and I saw their structure. When I was in Berlin I was talking to another medical Organisation to bring their facility to Ondo State. I was negotiating with them not knowing that someone else is already waiting for this

“No doubt, we are interested in this. We have made efforts. We are already working on how to secure a land very close the airport. It is an interesting thing.

“We are prepared to cooperate and we know that this sort of thing is to be done with a joint venture. The interest of Ondo State is there. We are putting land. The joint venture itself will come up.”

Arakunrin Akeredolu also announced that the state government has set up a team led by the Special Adviser to the Governor on Health, to midwife and work with the Medicus International.

Earlier, the facilitator for Medicus International, Chief Oludare Bello said the time for the execution of the project is thirty-six months and development will be completed in forty – eight months.

According to him, the hospital will deal with all facets of health car, adding that the nearness to the airport became imperative because the hospital will have its own helicopter that will transverse other parts of the state for medical purposes.

Chief Bello explained that there will be other facilities in the hospital with conference Center, Cinema, teaching hospital and nursing schools.

“The hospital is a city on its own. The design is premised on the fact that there will be green in the whole hospital. That’s meant to make the patients see the ambience of the hospital when they lean over the window to have a view

“It will be one of its kinds in Nigeria. Over 50% of the doctors are already trained in Germany. The doctors that will be employed here will also be trained in Germany,” he said.

The Special Adviser to the Governor on Health, Dr. Jibayo Adeyeye, said Medicus International is charged with the responsibility of looking for fund for project, adding that the State government is only investing 100 hectares of land and with other routine approvals.

He said the MoU was coming after series of engagements to have a memorandum signed between the state government and the Medicus International.

“Medicus International is going to be charged with the responsibility of looking for funds to execute the project, they are not asking the state government for any money and the project is estimated to cost about $1.1 billion. All Medicus is asking from us is 100 hectares of land, which we have promised to them in good time.

“They are also asking us for a routine approvals, which we normally give as government, which we’ve also pledged to ensure to facilitate for them. This project will start running from the 36th month and will be fully completed by the 48th month,” he explained.