First City Monument Bank (FCMB) has committed ₦20 billion to financing private healthcare businesses in Nigeria to support infrastructure development, business expansion and improved access to essential healthcare services, including eye care.
The financing will support eligible healthcare providers with equipment acquisition, infrastructure upgrades, working capital, technology investments and business expansion.
The commitment comes amid efforts by the Nigerian government to attract greater private-sector investment and strengthen partnerships to improve healthcare infrastructure and service delivery.
FCMB Managing Director and Chief Executive Officer, Yemisi Edun, said the bank’s financing solutions could help viable healthcare businesses strengthen their operations, expand capacity and reach more Nigerians.
She encouraged healthcare providers across the value chain, including eye-care businesses, to explore the available financing opportunities to support their growth and improve service delivery.
Speaking at a public-private partnership roundtable organised by FCMB in Abuja, the Minister of State for Health and Social Welfare, Dr Iziaq Salako, advocated blended finance, social impact bonds and corporate co-funding as mechanisms for strengthening healthcare infrastructure and expanding access to services.
Salako also commended FCMB and the Tulsi Chanrai Foundation (TCF) for their sustained partnership in eye care, urging more businesses to adopt similar models to address healthcare challenges.
FCMB and TCF Expand Access to Eye Care
Since 2009, more than 400,000 people have benefited from free eye-care services provided through FCMB and TCF’s Priceless Gift of Sight initiative.
The programme offers eye testing, optical care, surgeries and disease management, helping beneficiaries access essential services that might otherwise be difficult to afford.
The new ₦20 billion financing commitment complements these efforts by supporting private healthcare businesses that need capital to expand operations, acquire modern equipment and improve the quality and reach of their services.
By increasing access to financing, the initiative could help eligible healthcare providers strengthen their capacity to meet growing demand for medical services while supporting investment in healthcare infrastructure.
Private Investment in Healthcare
The initiative highlights the role of financial institutions and private-sector partnerships in addressing healthcare financing challenges in Nigeria.
Access to capital remains important for healthcare businesses seeking to modernise facilities, adopt new technologies and expand services to underserved communities.
Through the financing commitment, FCMB is seeking to support the growth of private healthcare enterprises while contributing to broader efforts to improve healthcare access and delivery across Nigeria.
The initiative is expected to create additional financing opportunities for eligible providers, although its overall impact will depend on uptake, financing terms and how effectively the funds support healthcare expansion.
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