By Kehinde Ibrahim, Lagos
FIRST City Monument Bank, FCMB, has launched a ₦20 billion healthcare financing initiative aimed at addressing one of the biggest challenges confronting Nigeria’s private healthcare sector—limited access to affordable and long-term capital. The intervention is expected to strengthen healthcare delivery by providing financial support to businesses seeking to expand operations, modernise facilities and improve service quality across the country.
The bank unveiled the Healthcare Fund during its inaugural Healthcare Summit in Lagos, describing the initiative as part of a broader commitment to supporting sustainable growth in Nigeria’s healthcare industry. The fund is designed to provide tailored financing solutions for healthcare providers while complementing government efforts to improve access to quality medical services and increase local production of pharmaceuticals and medical equipment.
According to FCMB, the ₦20 billion facility will be available to a broad range of healthcare businesses, including hospitals, clinics, diagnostic centres, pharmaceutical manufacturers, pharmacies, maternity homes and other healthcare enterprises operating across the value chain.
The financing will support business expansion, acquisition of modern medical equipment, infrastructure development, working capital requirements, digital transformation and technology investments needed to enhance healthcare delivery.
The initiative comes at a time when Nigeria is intensifying efforts to strengthen its healthcare system and reduce dependence on imported medicines and medical devices.
Under the Presidential Initiative for Unlocking the Healthcare Value Chain, the Federal Government aims to achieve local production of 70 per cent of medicines and medical devices by 2030.
Speaking at the summit, FCMB’s Managing Director and Chief Executive Officer, Yemisi Edun, whose remarks were delivered by the Executive Director, Corporate Services and Service Management, Felicia Obozuwa, stressed that sustainable healthcare financing is essential to improving health outcomes and driving economic development.
She described healthcare as both a social necessity and an economic priority, noting that building a resilient healthcare system requires access to patient, affordable and long-term capital that enables providers to invest confidently in their operations.
Edun explained that the newly launched fund forms part of FCMB’s broader healthcare financing proposition, which combines lending with advisory services, strategic partnerships and capacity-building initiatives designed to strengthen healthcare businesses and improve their ability to attract investment.
Beyond providing access to finance, the bank said it intends to work closely with industry stakeholders to enhance governance standards, financial management and operational efficiency among healthcare providers.
President of the Healthcare Federation of Nigeria, HFN, Njide Ndili described inadequate access to finance as one of the most significant barriers limiting the growth of private healthcare businesses in the country.
She said the federation’s experience through its partnership with the PharmAccess Medical Credit Fund has demonstrated that healthcare enterprises, particularly small and medium-sized operators, can maintain strong repayment performance when financing is accompanied by technical assistance, capacity building and quality improvement programmes.
According to Ndili, HFN will collaborate with FCMB to develop a framework for identifying eligible healthcare facilities, strengthening their institutional capacity and preparing them to become investment-ready.
She noted that the federation currently represents more than 400 member organisations and over 4,000 healthcare professionals, positioning it to support the successful implementation of the financing programme.
Stakeholders at the summit observed that improving access to capital alone will not be sufficient unless healthcare businesses also strengthen corporate governance, maintain transparent financial reporting, enhance management capacity and develop sustainable business growth strategies capable of attracting long-term investment
Addressing participants, the Minister of State for Health and Social Welfare, Dr. Iziaq Salako highlighted the Federal Government’s ongoing investments in strengthening Nigeria’s healthcare system.
He disclosed that more than ₦339 billion has been disbursed through the Basic Healthcare Provision Fund over the past 12 years, with approximately ₦235 billion released within the last three years under the Health Sector Renewal Investment Initiative.
Salako further revealed that an additional ₦32.9 billion has recently been disbursed to support more than 8,300 primary healthcare centres across the country, adding that government plans are underway to expand coverage to about 13,000 facilities nationwide.
The minister called for stronger collaboration between public institutions, financial organisations and private investors to mobilise the capital required to transform Nigeria’s healthcare sector.
He urged healthcare operators to strengthen corporate governance structures, improve financial accountability and explore blended finance models capable of unlocking larger pools of investment for expansion and innovation.
Participants at the summit examined emerging investment opportunities across key segments of the healthcare industry, including primary healthcare services, diagnostics, pharmaceutical manufacturing, medical equipment production, digital health solutions and healthcare infrastructure development.
FCMB maintained that its healthcare financing proposition is strategically designed to support businesses across the entire healthcare value chain, enabling operators to expand capacity, improve service delivery and contribute meaningfully to the development of a more resilient and self-sustaining healthcare system in Nigeria.
