FSDH Merchant Bank Brings Stakeholders Together to Bridge Nigeria’s Healthcare Funding Shortfall

FSDH Merchant Bank has brought together key players from Nigeria’s healthcare and financial services sectors at its Health Sector Roundtable titled “Care Meets Capital,” highlighting the urgent need to align healthcare delivery with sustainable investment to strengthen the nation’s health system.

Taking place at The Wheatbaker in Ikoyi, Lagos, the exclusive event gathered healthcare founders, operators, policymakers, development finance institutions, and investors to explore practical ways to develop resilient, investment-ready healthcare enterprises capable of delivering long-term value.

In his keynote speech, Lagos State Commissioner for Health, Akin Abayomi, stressed the importance of aligning public policy with responsible private investment to create a healthcare system that is both equitable and economically sustainable.

“Healthcare is both a social necessity and an economic imperative,” Abayomi said. “If we are to build a system that is equitable, efficient and future-proof, we must intentionally align policy direction with responsible private investment and operational excellence. Sustainable healthcare requires innovative financing models, stronger governance frameworks and deeper collaboration between government and private capital.”

In her opening remarks, Bukola Smith, Managing Director and Chief Executive Officer of FSDH Merchant Bank, highlighted the structural funding gaps within Nigeria’s health sector. She noted that healthcare accounts for around 4.2 per cent of the 2026 national budget, while over 70 per cent of total health expenditure is paid out-of-pocket by individuals and families.

“These figures tell a compelling story,” Smith said. “They show that, while public funding remains limited, the financial burden is mainly borne by patients and private providers. Healthcare businesses are not only delivering care; they are shouldering a significant part of the financial responsibility within the system. The private sector cannot bridge this gap alone, which is why stronger collaboration between financial institutions, development partners, and government stakeholders is essential.”

A distinguished panel comprising Fola Laoye, Co-Founder and CEO of Iwosan Lagoon Healthcare Systems Limited; Tosin Runsewe, Founder and CEO of AfyA Care; and Theresa Lawal, Head of Product Development & Strategic Alliances at the Development Bank of Nigeria, examined the gaps, trends, opportunities, and challenges around healthcare financing in Nigeria.

Discussions focused on access to structured, long-term financing, foreign exchange risks in equipment procurement, governance and compliance requirements, digital health expansion, and balancing affordability with quality care. Panelists emphasised the need for financing models that acknowledge the unique investment cycles and capital-intensive nature of healthcare delivery.

The session continued with comments from Stella-Marie Omogbai, Executive Director, Corporate Banking and Branches at FSDH Merchant Bank, who explained how the Bank is strategically positioned to address financing gaps hindering Nigeria’s healthcare sector through specialised products and sector-specific expertise.

A fireside chat followed, featuring Bolaji Odunsi, Chairman and Founder of Marcelle Ruth Cancer Centre, and Arjun Udani, Co-Chief Executive Officer of Mecure Industries Plc. Moderated by Kunle Osunkunle, Head of Corporate Banking at FSDH Merchant Bank, the discussion offered practical insights into scaling specialist healthcare services and pharmaceutical manufacturing amid Nigeria’s evolving economic landscape.

Industry leaders in attendance actively engaged with the keynote speaker, FSDH executives, and panelists, raising questions and receiving practical advice on risk management, blended finance structures, and strengthening governance frameworks to attract institutional capital.

In her closing remarks, Oladunni Ayobanjo, Head of the Health Desk at FSDH Merchant Bank, reaffirmed the Bank’s pledge to support Nigeria’s health sector through structured financing solutions and advisory services tailored to healthcare operators.

Through its “Care Meets Capital” initiative, FSDH Merchant Bank demonstrated its commitment to extending sector-focused engagement beyond capital provision, fostering dialogue, partnerships, and practical solutions designed to create sustainable impact across Nigeria’s healthcare value chain.