According to President Muhammadu Buhari, his administration gave local pharmaceutical producers N100 billion, and investors in the healthcare industry also benefited from the cash. 

To increase the nation's capacity to produce pharmaceuticals, Buhari funded the operation of the Nigerian-owned healthcare businesses through the Central Bank of Nigeria (CBN). 

The payment was made to continue the healthcare sector's economic contribution to Nigeria just after COVID-19 epidemic. During the lockout, the sector was seen as important.

On Tuesday, when the new Executive members of the Nigerian Medical Association (NMA) visited the Presidential Villa in Abuja, Buhari made the financial support public. 

"I salute our medical professionals for outstanding contribution to Nigeria's excellent handling of the COVID-19 pandemic, the regulation of malaria, HIV, and tuberculosis, and other marvels also performed by Nigerian doctors in the diaspora," the president continued.

"Our reaction to the COVID-19 pandemic has received recognition on a global scale, and your members have played a significant role in this success. 

"I recall that in the final quarter of 2021, the most recent NMA executives came to see me and gave me recommendations for the health sector. These recommendations included reviewing and amending the NHIS Act, modernizing and equipping current healthcare facilities, obtaining loans to pay for hospital equipment, repealing and reenacting the Medical and Dental Practitioners' Act, and requesting more funding for the four recently founded Universities of Medical Sciences.

I'm happy to say that the most of these ideas have been taken into consideration, and more work is being done to research the ones that involve cross-cutting administrative procedures with legal ramifications.