First City Monument Bank (FCMB) has unveiled a N20 billion healthcare fund to expand financing for medical businesses and strengthen Nigeria’s private health sector.
- +FCMB unveils N20bn fund to boost private health financing
Launched at the FCMB Healthcare Summit 2026, where policymakers, investors, and development partners gathered to drive sustainable healthcare financing, the bank presented a ceremonial cheque to the Healthcare Federation of Nigeria (HFN).
Launched at the FCMB Healthcare Summit 2026, where policymakers, investors, and development partners gathered to drive sustainable healthcare financing, the bank presented a ceremonial cheque to the Healthcare Federation of Nigeria (HFN).
Iziaq Salako, Nigeria’s minister of State for Health and Social Welfare, made the presentation alongside the FCMB team led by Felicia Obozuwa, executive director, Corporate Services and Service Management.
Salako highlighted the federal government’s efforts to strengthen Nigeria’s health system through ongoing reforms and strategic interventions, and emphasised the government’s commitment to fostering stronger collaboration with the private sector in advancing Universal Health Coverage.
Speaking on “Building a Stronger Private Healthcare Sector: Leadership, Collaboration and Sustainable Financing for the Future”, 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.
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.
Drawing on HFN’s experience through PharmAccess’ Medical Credit Fund, 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 over 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.
