First City Monument Bank (FCMB) has unveiled a ₦20 billion fund dedicated to supporting private healthcare providers across Nigeria. This initiative aims to address the significant shortage of affordable, long-term capital facing hospitals, clinics, diagnostic centers, and pharmaceutical enterprises. By offering both funding and advisory services, the bank intends to help these businesses improve their operations, upgrade infrastructure, and procure advanced medical equipment.
This financial support aligns with Nigeria’s national goal to produce 70% of its medical devices and medicines locally by 2030. During the announcement in Lagos, Felicia Obozuwa, representing FCMB CEO Yemisi Edun, emphasized that sustainable healthcare development necessitates patient and accessible capital. The Healthcare Federation of Nigeria (HFN) will collaborate with FCMB to prepare these businesses for investment by focusing on technical capacity and governance standards.
Government officials noted that public funding is also increasing, with Minister of State for Health Iziaq Salako reporting that over ₦339 billion has been directed toward the sector via the Basic Healthcare Provision Fund. Despite these public investments, the government continues to encourage private lenders to help bridge the funding gap, urging healthcare firms to prioritize professional management and transparent financial reporting to attract further growth capital.
