FCMB Commits N20bn As FG Seeks More Private Sector Investment

The federal government has called for increased private-sector investment in healthcare delivery, as First City Monument Bank (FCMB) disclosed a N20 billion commitment to finance private healthcare businesses to boost investment in capacity, equipment, technology, and service delivery.

The Minister of State for Health and Social Welfare, Dr Iziaq Salako, made the call at a public-private partnership roundtable in Abuja, urging businesses to build sustainable partnerships that would complement government efforts to expand access to quality healthcare services.

Salako cited the partnership between FCMB and the Tulsi Chanrai Foundation (TCF), which has provided free eye care services to more than 400,000 Nigerians since 2009, as a model other businesses should replicate.

The initiative, known as the Priceless Gift of Sight, provides a range of services, including eye testing, optical services, surgeries and disease management.

The roundtable was organised by FCMB in collaboration with the Federal Ministry of Health and Social Welfare, through the National Eye, Ear and Sensory Functions Health Programme, and TCF.

Speaking at the event, themed “Gift of Sight: Mobilising Partnerships and Sustainable Funding Towards Transforming Eye Care in Nigeria,” Salako said the private sector needed to move beyond isolated interventions to establish structured, long-term partnerships capable of mobilising resources and expertise for healthcare delivery.

“The private sector should move beyond isolated interventions and build long-term, structured partnerships that mobilise capital, technology, expertise and distribution networks to complement government efforts in expanding access to quality eye care,” he said.

He commended FCMB and TCF for sustaining their investment in eye health, urging other corporate organisations to adopt similar approaches to addressing healthcare challenges across the country.

The minister’s appeal comes amid efforts to strengthen collaboration between the government and private businesses in mobilising funding, improving healthcare infrastructure and expanding access to essential medical services.

Speaking, the FCMB’s Managing Director and Chief Executive Officer, Yemisi Edun, said partnerships between financial institutions, healthcare organisations and development partners could extend essential services to more communities.

Edun’s remarks were delivered by the bank’s Divisional Head, Corporate Affairs, Diran Olojo.

“Our partnership with Tulsi Chanrai Foundation demonstrates that when the private sector brings together capital, expertise and a commitment to community impact, we can change lives at scale. We believe this model can and should be replicated across Nigeria,” she said.

Beyond its eye-care partnership, FCMB has committed N20 billion to financing private healthcare businesses, with the funding expected to support investments in capacity expansion, medical equipment, technology and service delivery.

The financing commitment underscores the role of financial institutions in supporting private healthcare providers in expanding operations and improving the delivery of medical services.

Participants at the roundtable included policymakers, healthcare professionals, development partners, financial institutions, private sector organisations and civil society groups. They discussed partnership models and sustainable funding mechanisms to transform eye-care delivery in Nigeria.