Biostadt is a science-based technology company founded by the owner of Coscharis, Mr. Cosmas Maduka. It started business in Nigeria in 1964 as CIBA–GEIGY and metamorphosed to Swiss Biostadt Limited in 2010. In 2016, Swiss Biostadt Limited signed a partnership deal with the medical technology giant, Siemens HealthCare in Abuja. The focus of the partnership was to address the emerging need for medical equipment within the sector.
In 2021, the company proceeded to buy up majority ownership of the Obudu German Specialist Hospital, conceived by governor Ayade. The company bought ninety-five percent of the hospital and made 100 percent payment including the cost of the land as well as all expenses the Cross River State government had already incurred on the project leaving just five percent for the State government.
Early this year 2022, a leading Lagos-based research and clinical care company, Cedacrest hospital, bought the remaining five percent that the Cross River State government was still holding in the hospital, leaving the State government with zero holding in the hospital. So as it is, our State government has no stake in the yet-to-be-completed hospital.
But the big question is, where are the proceeds from the sale, since even members of the State Executive Council, claim they aren’t aware of the transactions?
Is our governor allowed to take such decisions alone as it appears he did?
Will the services of that hospital, if eventually completed, still be affordable to the people it was intended to serve?
Why is governor Ayade still claiming he is the one building the hospital?
Na questions I dey ask…
Citizen Agba Jalingo is the Publisher of CrossRiverWatch and a rights activist, a Cross Riverian, and writes in from Lagos.
NB: Opinions expressed in this article are strictly attributable to the author, Agba Jalingo, and do not represent the opinion of CrossRiverWatch or any other organization the author works for/with.
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