A former president, Chief Olusegun Obasanjo, has said that the country loses about N300 billion every year to the prevention and treatment of malaria and other endemic diseases.

The event took place at the site of the proposed varsity at Ajibayo village, OGTV-Ajebo Road, Abeokuta, Ogun State.

The former military ruler also noted that 43 per cent of the population lacked access to safe water and adequate sanitation.

Obasanjo, who ruled Nigeria for eight years as a democratic-elected president after serving as head of state, said that the country loses N300bn to the treatment of diseases that could be prevented if the health sector was well funded.

“These alarming statistics are further worsened by a number of infrastructural deficiencies.

“It is common knowledge that 43 per cent of the population lacks access to safe water, 37 per cent lacks access to adequate sanitation and about 40 per cent lacks access to public health services.

“Apart from the endemic diseases , the rising number of non-communicable and life-threatening diseases like diabetes mellitus, hypertension, chronic kidney diseases, cancers of the breast and cervix among our women, prostate and colon cancer among men is alarming.

“There is also a challenge of malnutrition and food security in the country,” he said.