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First City Monument Bank (FCMB) has launched a ₦20 billion Healthcare-Focused Fund to expand access to financing for healthcare businesses across Nigeria, marking a significant investment in strengthening the country’s private healthcare sector.
The fund was unveiled at the FCMB Healthcare Summit 2026, themed “Financing Growth. Unlocking Opportunity. Building the Future of Healthcare,” which brought together healthcare leaders, policymakers, financial institutions, investors and development partners to explore practical solutions for expanding sustainable healthcare financing.
As a symbolic demonstration, FCMB presented a ceremonial cheque representing the ₦20 billion fund to the Healthcare Federation of Nigeria (HFN) on behalf of Nigeria’s private healthcare sector, in recognition of the Federation’s role representing private healthcare providers and businesses across the country. The presentation was made by the Honourable Minister of State for Health and Social Welfare, Dr. Iziaq Kunle Salako, alongside the FCMB leadership team led by Ms. Felicia Obozuwa, Executive Director, Corporate Services and Service Management; Mr. George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking; and Chidinma Chigbo-Anachebe, Head, Healthcare Segment.
In his keynote address, Dr. Salako highlighted the Federal Government’s efforts to strengthen Nigeria’s health system through ongoing reforms and strategic interventions, and emphasized the government’s commitment to fostering stronger collaboration with the private sector in advancing Universal Health Coverage.
Delivering the Special Industry Address on “Building a Stronger Private Healthcare Sector: Leadership, Collaboration and Sustainable Financing for the Future,” HFN President Mrs. Njide Ndili welcomed the initiative, noting that sustainable transformation of Nigeria’s healthcare sector will require stronger partnerships between government, financial institutions and private healthcare providers. She described access to affordable, fit-for-purpose financing as one of the most critical enablers of sustainable growth across the sector.
Mrs. Ndili called for stronger public-private collaboration, commended ongoing health sector reforms by the Federal Ministry of Health and Social Welfare, and stressed the need for greater private sector representation in health policy and decision-making. She emphasized that financing initiatives should deliberately support small and medium-sized healthcare enterprises — including clinics, pharmacies, diagnostic centres, maternity homes and Patent and Proprietary Medicine Vendors (PPMVs) — which form the backbone of healthcare delivery across Nigeria.
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Drawing on HFN’s experience through PharmAccess’ Medical Credit Fund, Mrs. Ndili highlighted the proven impact of combining access to finance with technical assistance and investment-readiness support, noting that healthcare SMEs are bankable and can grow sustainably when given appropriate financing structures, quality improvement support and sound business practices. She described access to capital as “without question, the single greatest constraint” holding back the private healthcare sector, particularly for small and medium-sized providers.
HFN welcomed the launch as a significant milestone in expanding access to financing for healthcare businesses, and committed to working closely with FCMB to develop the framework for accessing the fund, ensuring eligible healthcare providers nationwide can benefit.
Leveraging its ecosystem of more than 4,000 professionals and 400+ member organisations and affiliated associations, HFN will support implementation by helping identify and pre-qualify eligible healthcare facilities, working with FCMB to facilitate access, and supporting SMEs to become investment-ready through quality and governance frameworks such as SafeCare — while bridging awareness gaps to ensure the fund reaches the small and medium-sized providers it is intended to serve.
HFN reaffirmed its commitment to working with government, FCMB and other stakeholders to strengthen healthcare businesses, improve service delivery and accelerate progress towards Universal Health Coverage in Nigeria.
The Healthcare Federation of Nigeria (HFN) is a coalition of private healthcare sector stakeholders committed to advancing Universal Health Coverage (UHC) through private sector engagement, advocacy and collaboration. The Federation brings together healthcare providers, pharmaceutical companies, diagnostic centres, health maintenance organisations (HMOs), medical technology companies and other healthcare stakeholders to promote an enabling policy environment, strengthen quality across the health sector, foster public-private partnerships, and advance sustainable healthcare delivery in Nigeria.
