LCCI wants direct utilisation of CACOVID donations for acquisition of critical medical needs

The Lagos Chamber of Commerce and Industry (LCCI) on Thursday said donations by Coalition Against COVID-19 (CACOVID) should be utilised directly for acquisition of needed items to achieve its purpose.

Its Director-General, Dr Muda Yusuf, said this in a statement in Lagos while underlining the need for the private sector fund to be well-utilised.

According to him, it is not advisable to hand over cash to the government or its agencies.

“It is much better to identify the critical needs and provide resources directly for the acquisition of the needed items, medications, food items and personal protective equipment (PPE).

“The spending priorities of the money raised should be guided by a robust needs assessment as established by medical teams in the frontline of managing this pandemic.

“They know better what the gaps are and this should guide the targeting of expenditure.

“This approach will also make it possible to get better outcomes from these donations,” he said.

Yusuf said that Coalition Against COVID-19 (CACOVID) donations, spearheaded by Alhaji Aliko Dangote, reflected private sector’s commitment to business sustainability and Corporate Social Responsibility (CSR) ideals.

According to him, the well-being of a business is dependent on the well-being of the society in which it operates.

Yusuf said that a business could only be good and stable as the community in which it was operating, adding that the private sector intervention was significant as government had funding limitations.

“The COVID-19 pandemic is a major threat to humanity and demands that all hands must be on deck.

“I must also commend the leadership demonstrated by Alhaji Aliko Dangote in mobilising the private sector for this historic intervention,” he said.

The LCCl DG urged companies to contribute into the private sector fund to support the Federal Government’s effort in combating coronavirus pandemic.

He said any socially responsible organisation should be part of this fight against COVID-19, as it was not just a philanthropic gesture but a matter that borders on business sustainability.

“The success of a business is not measured only in terms of the returns to shareholders; it is also assessed by the impact that the business makes on other stakeholders,” he said.

Yusuf said there was need for Federal Government to invest massively in Nigeria’s health sector, as low level of investment in the sector had been the biggest challenge.

According to him, government investment in the sector is one of the lowest you can find anywhere in the world.

”Public health facilities are in a parlous state and the health sector is daily suffering from brain drain, with doctors and nurses going out of the country on daily basis.

“Therefore, there is need to scale up budgetary allocation to the health sector by all levels of government. The current level of budgetary provision for health is extremely low,” he said.

Yusuf said that the government should take urgent steps to ensure compulsory health insurance scheme in the country.

He said at present, most of the health services enjoyed by the citizens were paid out of pocket and this had limited the effective demand for health care.

Yusuf said once effective demand was generated through the introduction of health insurance, there would be good supply side response from private investors who would invest in the sector.

“This is something that we need to do very urgently to salvage our deteriorating health sector,” he said.