FCMB’s N20bn Healthcare Fund Targets Hospitals, Pharma Firms

First City Monument Bank (FCMB) has unveiled a N20 billion Healthcare Fund aimed at providing affordable, long-term financing to hospitals, pharmaceutical companies, diagnostic centres, pharmacies and other healthcare businesses across Nigeria.

The fund, announced at the bank’s inaugural Healthcare Summit in Lagos, is designed to address the persistent financing challenges facing private healthcare providers while supporting expansion, medical equipment acquisition, infrastructure development, working capital and technology investments.

Speaking at the summit, FCMB’s Managing Director and Chief Executive Officer, Yemisi Edun, represented by the executive director, Corporate Services and Service Management, Felicia Obozuwa, described healthcare as both a social necessity and an economic priority.

She said the bank’s intervention would provide the patient capital required to strengthen the country’s healthcare system.

“Healthcare is a social imperative and an economic priority. Building a strong healthcare system requires capital that is patient, affordable and long-term,” Edun said.

According to the bank, the N20 billion facility forms part of a broader healthcare financing programme that combines lending with advisory services and strategic partnerships to help healthcare businesses improve operations, strengthen governance and attract investment.

The financing package will benefit hospitals, clinics, diagnostic centres, pharmaceutical manufacturers, pharmacies, maternity homes and other healthcare enterprises operating across the healthcare value chain.

FCMB said the initiative aligns with the Federal Government’s efforts to strengthen healthcare delivery and achieve its target of producing 70 per cent of medicines and medical devices locally by 2030 under the Presidential Initiative for Unlocking the Healthcare Value Chain.

President of the Healthcare Federation of Nigeria (HFN), Njide Ndili, said access to finance remains one of the biggest constraints facing private healthcare operators.

She noted that HFN’s partnership with the PharmAccess Medical Credit Fund has demonstrated that small and medium-sized healthcare businesses can maintain strong repayment records when financing is supported with technical assistance, capacity building and quality improvement initiatives.

Ndili disclosed that HFN would collaborate with FCMB to develop a framework for pre-qualifying healthcare facilities and preparing businesses to become investment-ready.

She added that the partnership would also help healthcare enterprises strengthen corporate governance, financial reporting and management systems to improve their ability to access funding.

Also speaking at the summit, the minister of State for Health and Social Welfare, Dr Iziaq Salako, said the Federal Government has significantly increased investments in the health sector.

According to him, over N339 billion has been disbursed through the Basic Healthcare Provision Fund over the past 12 years, including N235 billion released within the last three years under the Health Sector Renewal Investment Initiativ

Salako further disclosed that an additional N32.9 billion has recently been released to support more than 8,300 primary healthcare centres nationwide, with plans to expand coverage to about 13,000 facilities.

He urged both public and private sector stakeholders to mobilise more investment into healthcare while encouraging operators to strengthen corporate governance, improve financial reporting and embrace blended finance models to drive sustainable growth.

The summit also explored investment opportunities across primary healthcare, diagnostics, pharmaceutical manufacturing, medical equipment, digital health and healthcare infrastructure.

FCMB reaffirmed its commitment to supporting healthcare businesses with innovative financing solutions that will expand capacity, improve service delivery and contribute to the growth of Nigeria’s healthcare sector.