FG Calls for Private Investment in Nigeria's Healthcare Sector

The Federal Government of Nigeria, represented by the Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako, has called for increased private capital investment in the healthcare sector during the FCMB Healthcare Summit 2026 held in Lagos. Salako stated that public funding alone cannot meet the healthcare needs of Nigeria's population exceeding 240 million.

He emphasized the necessity of long-term financing for the growth of the healthcare system and highlighted the government's reforms, including the National Health Act 2014 and the National Health Insurance Authority (NHIA) Act 2022. The Basic Healthcare Provision Fund (BHCPF) has disbursed ₦339 billion over 12 years, with ₦32.9 billion recently supporting over 8,300 primary healthcare centers.

Salako aims to increase the BHCPF allocation from one percent to two percent of the Consolidated Revenue Fund and noted a 35 percent rise in health insurance coverage since 2023, despite out-of-pocket spending still accounting for 71 percent of healthcare expenditure.