Osinbajo Advocates Innovative Financing for Healthcare

Former Vice President Prof. Yemi Osinbajo advocated for innovative financing mechanisms to tackle the funding challenges facing Africa's healthcare systems at a high-level roundtable organized by Futur Perspect and the Gates Foundation in Lagos earlier this month.

Osinbajo highlighted that government funding alone is insufficient to meet the growing demands on healthcare systems and stressed the importance of alternative financing models to expand access and reduce reliance on direct payments from patients. He noted that a significant portion of Nigeria's population relies heavily on out-of-pocket healthcare payments.

The session, moderated by Serah Makka, included representatives from various healthcare organizations, financial institutions, and development agencies. Dr.

Abdu Mukhtar pointed out that only 10-12% of Nigerians currently have health insurance coverage, which necessitates significant investment and stronger partnerships. Other participants, including Dr.

Tolulop Adewol and Bolaji Balogun, emphasized the need for private capital to bridge the healthcare financing gap and support sustainable healthcare delivery.