FCMB launches N20bn healthcare fund

First City Monument Bank (FCMB) launched a N20 billion healthcare fund at its inaugural Healthcare Summit in Lagos on July 28, 2026. The fund aims to finance private healthcare businesses in Nigeria, including hospitals, clinics, diagnostic centers, pharmaceutical companies, pharmacies, and maternity homes. It will support expansion, medical equipment purchases, infrastructure, working capital, and technology investments. The initiative aligns with Nigeria's goal to locally produce 70% of medicines and medical devices by 2030. FCMB will partner with the Healthcare Federation of Nigeria (HFN) to develop a framework for pre-qualifying facilities and helping businesses become investment-ready. The fund is part of FCMB's broader healthcare financing offering that combines lending with advisory support. The summit brought together healthcare operators, financiers, investors, policymakers, and development partners to discuss sustainable financing for the sector. Minister of State for Health Iziaq Salako delivered the keynote address, highlighting government reforms and increased public funding for healthcare. HFN President Njide Ndili emphasized that access to capital is the single greatest constraint for private healthcare providers and called for prioritizing small and medium-sized enterprises. The fund is expected to improve access to affordable, long-term capital for healthcare businesses, supporting the sector's growth and contributing to universal health coverage in Nigeria.