Spread the wordTo bridge a critical funding gap, First City Monument Bank (FCMB) has committed ₦20 billion to finance private healthcare businesses in Nigeria, targeting a critical sector in need of affordable, long-term capital. The 20 billion Healthcare Fund, announced at FCMB’s inaugural healthcare summit in Lagos, will target businesses including hospitals and clinics, diagnostic centres, pharmaceutical companies, pharmacies, maternity homes and other healthcare enterprises. The financing will support expansion, medical equipment purchases, infrastructure, working capital and technology investments, according to FCMB. The initiative comes as Nigeria seeks to expand healthcare capacity and boost local production of medicines and medical devices. Access to finance remains a major constraint for private healthcare operators, according to Njide Ndili, president of the Healthcare Federation of Nigeria.