The Management of the Olabisi Onabanjo University Teaching Hospital (OOUTH) said it has internally generated revenue of N1.6 billion in 10 months.
Speaking during the institution’s 2025 budget defense at the Ogun State House of Assembly in Abeokuta, Chief Medical Director, Dr. Oluwabunmi Fatungase disclosed Monday that between January and October 2024 the hospital generated N1.6 billion and proposed to generate N3.1 billion in 2025.
Revenue sources for 2025
She said that the projected revenue for the hospital in 2025 would come from multiple sources, including contractors’ registration fees, administrative charges, and the sale of bills of entries and application forms.
Additional income sources include proceeds from the sale 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 also expected to come from earning from laboratory services,” the OOUTH boss said.
Major infrastructure projects
Dr. Fatungase further highlighted that N788 million has been allocated for constructing an administrative block, which will include offices, an auditorium, boardrooms, and committee rooms equipped with essential facilities.
“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 Physiotherapy Building and Stroke Unit.
“About N7.1bn has been earmarked for the construction of Trauma Centre for heart failure, asthma and convulsions,” she said.
Dr. Fatungase also said that the hospital’s 2025 budget proposal includes a recurrent expenditure of N6.9 billion and a capital expenditure of N22.6 billion.
State Ministry of health’s budget
Also presenting the budget estimates for the Ministry of Health, the Commissioner, Dr Tomi Coker, said that the ministry proposed N15.5 billion as total expenditure for 2025.
Coker said that N4.1 billion was earmarked for the renovation of all three state-owned Colleges of Nursing and construction of additional hostel blocks.
More insights
The Olabisi Onabanjo University Teaching Hospital (OOUTH) is a leading public healthcare institution in Ogun State, Nigeria.
- Established as the teaching hospital for the Olabisi Onabanjo University (OOU), it serves as a center for advanced medical education, research, and patient care.
- The hospital is situated in Sagamu, Ogun State, offering accessible healthcare services to the state’s residents and beyond.
The hospital is equipped with modern medical equipment and offers specialized services, including surgery, cardiology, oncology, pediatrics, and more.