Varsity hospital generates N1.6bn revenue in 10 months

The management of the Olabisi Onabanjo University Teaching Hospital (OOUTH) in Ogun State says its internally generated revenue between January and October stood at N1.6 billion.

The Chief Medical Director of the hospital, Dr Oluwabunmi Fatungase, disclosed this while defending the institution’s 2025 budget proposal before the Ogun House of Assembly in Abeokuta, the Ogun State capital, on Monday, December 16, 2024.

Fatungase said the hospital proposed to generate N3.1 billion in 2025.

She stated that the revenue was expected to come from contractors’ registration fees, administration fees and charges, sales of bills of entries, and application forms.

The CMD: “Others are proceeds from the sales of government vehicles.

“A total of N957.5 million is expected from the sales of drugs and medications.

“Over N1.4 billion will be generated from medical services, while N717.6 million is expected to come from earnings from laboratory services.”

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Fatungase said N788 million was earmarked for the construction of an administrative block, comprising offices, auditorium, boardrooms and committee rooms with the necessary equipment.

Fatungase noted: “The project has the capacity to enhance delivery of quality healthcare services through staff motivation from a conducive work environment and improved image of the hospital.

“The sum of N160.9 million would be used for the construction of the Physiotherapy Building and Stroke Unit.

“About N7.1bn has been earmarked for the construction of Trauma Centre for heart failure, asthma and convulsions.”

Fatungase added that the hospital proposed a recurrent expenditure of N6.9 billion, while capital expenditure would be N22.6 billion.

Also presenting the budget estimates for the Ministry of Health, the commissioner, Dr Tomi Coker, said the ministry proposed N15.5 billion as total expenditure for 2025.

Coker added that N4.1 billion was earmarked for the renovation of all three state-owned Colleges of Nursing and the construction of additional hostel blocks

The Star