FCMB Launches ₦20bn Healthcare Fund

First City Monument Bank (FCMB) has unveiled a ₦20 billion healthcare fund to support private healthcare businesses across Nigeria, providing much-needed long-term financing to strengthen one of the country’s most important sectors. The FCMB healthcare fund is expected to improve access to affordable capital while helping healthcare providers expand their services.

The fund will finance hospitals, clinics, diagnostic centres, pharmaceutical companies, pharmacies, maternity homes, and other healthcare businesses. According to the bank, the financing will cover business expansion, medical equipment purchases, infrastructure development, working capital, and technology investments.

Speaking at FCMB’s inaugural healthcare summit in Lagos, Managing Director and Chief Executive Officer Yemisi Edun, represented by Executive Director Felicia Obozuwa, described healthcare as both a social and economic priority. She said, “Healthcare is a social imperative and an economic priority. Building a strong healthcare system requires capital that is patient, affordable and long-term.”

The FCMB healthcare fund aligns with the Federal Government’s ambition to produce 70 per cent of medicines and medical devices locally by 2030 through the Presidential Initiative for Unlocking the Healthcare Value Chain.

Njide Ndili, President of the Healthcare Federation of Nigeria (HFN), noted that access to finance remains a major challenge for private healthcare providers. She said healthcare businesses perform well when funding is combined with technical support, capacity building, and quality standards. HFN will work with FCMB to help healthcare facilities become investment-ready and improve governance and financial reporting.

Meanwhile, Minister of State for Health and Social Welfare, Dr Iziaq Salako, disclosed that over ₦339 billion has been released through the Basic Healthcare Provision Fund over the past 12 years, including ₦235 billion in the last three years. He urged greater public and private investment to strengthen healthcare delivery nationwide.

Do you think increased private sector funding can significantly improve Nigeria’s healthcare system?