In a significant move to revitalize the nation’s healthcare delivery, First City Monument Bank has unveiled a ₦20 billion fund specifically designed to provide essential financing for private healthcare businesses across Nigeria. This initiative, announced during the recent FCMB Healthcare Summit 2026, aims to tackle the persistent funding gaps that have long hindered the growth and operational capacity of many healthcare providers in the country.
The event, centered on the theme of financing growth and building a sustainable future for the industry, served as a gathering point for policymakers, investors, and various stakeholders within the health sector. During the summit, a symbolic presentation of the fund was made to the Healthcare Federation of Nigeria, an umbrella body representing private healthcare interests, to underscore the partnership’s commitment to reaching those who need it most. Representing the federal government, the Minister of State for Health and Social Welfare, Dr. Iziaq Kunle Salako, participated in the event alongside the bank’s executive team, including Ms. Felicia Obozuwa, Mr. George Ogbonnaya, and Chidinma Chigbo-Anachebe.
Dr. Salako used the opportunity to reiterate the government’s ongoing dedication to strengthening the national health system through strategic reforms. He emphasized that achieving universal health coverage is a collaborative effort, stressing that the federal administration is keen on fostering a more robust and mutually beneficial relationship with the private sector to bridge existing gaps in service delivery.
Echoing these sentiments, the President of the Healthcare Federation of Nigeria, Mrs. Njide Ndili, described the new fund as a vital step toward the transformation of the sector. She highlighted that for many small and medium-sized providers, including local clinics, pharmacies, and diagnostic centers, the lack of affordable and structured financing has remained the single greatest barrier to their development. She urged for a deliberate focus on these smaller players, who serve as the backbone of healthcare access for the majority of citizens.
Drawing from past experiences with similar credit initiatives, Mrs. Ndili noted that providing capital alone is not enough. Success lies in combining financial support with technical guidance and a commitment to quality management. To this end, the Federation plans to work closely with the bank to develop clear access frameworks. By leveraging its vast network of professional members and organizations, the Federation aims to help facilities become investment-ready, ensuring they meet the necessary quality and governance standards required to benefit from this ₦20 billion commitment.
Ultimately, this initiative is seen as a major milestone, with the Federation pledging its full support to ensure the fund is effectively deployed to empower healthcare entrepreneurs. Through this public-private synergy, stakeholders hope to see a significant improvement in the quality of care and a faster journey toward universal health coverage for all Nigerians. This partnership stands as a promising blueprint for how the financial sector can actively contribute to critical national infrastructure.
