Nigeria: BOI Secures €50m European Investment Bank Healthcare Funding

By Oluchi Chibuzor

The Bank of Industry (BOI) and European Investment Bank (EIB) has announced a €50 million financing initiative, aimed at strengthening Nigeria's healthcare and pharmaceutical value chain.

The funding, according to a statement, is designed to improve access to long-term financing for healthcare and pharmaceutical enterprises across Nigeria.

Speaking on the collaboration, Managing Director/CEO BOI, Dr. Olasupo Olusi, stated that, "This partnership reflects our commitment to strengthening Nigeria's healthcare ecosystem through targeted financing and strategic collaboration. By working closely with stakeholders across the public and private sectors, we are able to design interventions that deliver sustainable and long-term impact."

However, the statement noted that the funding will also support the expansion of local manufacturing capacity, enhance supply chain resilience, and contribute to improved health outcomes by increasing the availability of essential medicines and vaccines.

"BOI acknowledges the partnership of the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) as a key advisory body driving Nigeria's healthcare ecosystem development.

PVAC engaged closely with EIB, alongside BOI during the structuring of the facility, ensuring alignment with sector priorities and national objectives, providing critical guidance on sector priorities, policy alignment, and stakeholder coordination to ensure that the intervention is both impactful and aligned with Nigeria's healthcare development agenda.

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