First City Monument Bank (FCMB) has unveiled a ₦20 billion Healthcare Fund to provide affordable, long-term financing for private healthcare businesses across Nigeria, in a move aimed at strengthening the country’s healthcare system and expanding access to quality medical services.
The fund, announced at the bank’s inaugural Healthcare Summit in Lagos, will provide financing to hospitals, clinics, diagnostic centres, pharmaceutical companies, pharmacies, maternity homes and other healthcare enterprises.
According to the bank, the facility will support business expansion, the acquisition of modern medical equipment, infrastructure development, working capital and technology investments needed to improve healthcare delivery.
Speaking at the summit, FCMB’s Managing Director and Chief Executive Officer, Yemisi Edun, represented by Executive Director, Corporate Services and Service Management, Felicia Obozuwa, described healthcare as both a social necessity and an economic priority.
“Healthcare is a social imperative and an economic priority. Building a strong healthcare system requires capital that is patient, affordable and long-term,” she said.
FCMB explained that the fund forms part of a broader healthcare financing strategy that combines lending with advisory services and strategic partnerships to help healthcare businesses improve operations, strengthen governance and attract investment.
The initiative aligns with the Federal Government’s drive to expand healthcare capacity and increase local production of medicines and medical devices under the Presidential Initiative for Unlocking the Healthcare Value Chain, which targets 70 per cent local production by 2030.
President of the Healthcare Federation of Nigeria (HFN), Njide Ndili, identified limited access to finance as one of the biggest challenges facing private healthcare providers. She noted that previous financing programmes demonstrated that healthcare businesses record strong loan repayment when funding is supported by technical assistance, capacity building and quality standards.
Ndili disclosed that the federation would collaborate with FCMB to develop a framework for pre-qualifying healthcare facilities and preparing businesses to become investment-ready.
Also speaking, the Minister of State for Health and Social Welfare, Dr Iziaq Salako, revealed that more than ₦339 billion has been disbursed through the Basic Healthcare Provision Fund over the past 12 years, including ₦235 billion in the last three years under the Health Sector Renewal Investment Initiative.
He added that another ₦32.9 billion had recently been released to support more than 8,300 primary healthcare centres, with plans to extend funding to about 13,000 facilities nationwide.
Salako urged healthcare operators to strengthen corporate governance, improve financial reporting and embrace blended financing models to attract more investment and drive sustainable growth.
The summit also explored investment opportunities in primary healthcare, diagnostics, pharmaceutical manufacturing, medical equipment, digital health and healthcare infrastructure as stakeholders sought practical solutions to improve healthcare financing and service delivery in Nigeria.
