The federal government has urged the private sector to increase investment in healthcare delivery, citing the need for sustainable partnerships to expand access to quality healthcare services. At a public-private partnership roundtable in Abuja, Minister of State for Health and Social Welfare, Dr Iziaq Salako, emphasized the importance of collaboration between the government and private businesses in mobilizing funding and improving healthcare infrastructure. The event was organized by First City Monument Bank (FCMB) in collaboration with the Federal Ministry of Health and Social Welfare.
Salako highlighted the partnership between FCMB and the Tulsi Chanrai Foundation (TCF) as a model for private sector investment in healthcare. The initiative, known as the Priceless Gift of Sight, has provided free eye care services to over 400,000 Nigerians since 2009. The program offers a range of services, including eye testing, optical services, surgeries, and disease management. Salako commended FCMB and TCF for sustaining their investment in eye health and urged other corporate organizations to adopt similar approaches.
The FCMB has committed N20 billion to financing private healthcare businesses, with the funding expected to support investments in capacity expansion, medical equipment, technology, and service delivery. The bank's Managing Director and Chief Executive Officer, Yemisi Edun, said partnerships between financial institutions, healthcare organizations, and development partners could extend essential services to more communities. Edun's remarks were delivered by the bank's Divisional Head, Corporate Affairs, Diran Olojo.
Salako emphasized the need for the private sector to move beyond isolated interventions and establish structured, long-term partnerships capable of mobilizing resources and expertise for healthcare delivery. He urged the private sector to mobilize capital, technology, expertise, and distribution networks to complement government efforts in expanding access to quality eye care. The minister's appeal comes amid efforts to strengthen collaboration between the government and private businesses in mobilizing funding and improving healthcare infrastructure.
The roundtable, themed “Gift of Sight: Mobilising Partnerships and Sustainable Funding Towards Transforming Eye Care in Nigeria,” brought together participants from various sectors to discuss the role of partnerships in transforming eye care in Nigeria. The event highlighted the importance of sustainable funding and partnerships in achieving universal access to quality healthcare services. FCMB's commitment to financing private healthcare businesses is expected to support the growth of the healthcare sector.
The partnership between FCMB and TCF demonstrates the impact that can be achieved when the private sector brings together capital, expertise, and a commitment to community impact. Edun said the bank believes this model can and should be replicated across Nigeria. The FCMB's financing commitment underscores the role of financial institutions in supporting private healthcare providers in expanding operations and improving the delivery of medical services.
The federal government's efforts to strengthen collaboration with the private sector are aimed at expanding access to essential medical services and improving healthcare infrastructure. The partnership between FCMB and TCF serves as a model for future collaborations, highlighting the potential for private sector investment to drive positive change in the healthcare sector. Key stakeholders are expected to build on the momentum generated by the roundtable to drive sustainable partnerships and investments in healthcare delivery.
Key points
- FCMB commits N20 billion to finance private healthcare businesses.
- The federal government calls for increased private-sector investment in healthcare delivery.
- The partnership between FCMB and TCF has provided free eye care services to over 400,000 Nigerians since 2009.
