SALAKO SAYS TINUBU ADMINISTRATION HAS ESTABLISHED STRONG POLICY FRAMEWORK FOR HEALTHCARE FINANCING
The Honourable Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako, has called for stronger collaboration between government, financial institutions and private investors to unlock the capital required to transform Nigeria’s healthcare system and accelerate universal health coverage.
This was contained in a statement issued by Ado Bako*, Assistant Director, Information and Public Relations, of the Ministry.
Dr. Salako made the call on Tuesday, 28th July, 2026, as Special Guest of Honour at the opening ceremony of the FCMB Healthcare Summit 2026 in Lagos.
Speaking on the theme “Financing Growth. Unlocking Opportunity. Building the Future of Healthcare,” he said sustainable financing remains one of the most critical challenges confronting the health sector, and must be addressed through strategic private investment alongside government reforms to build modern hospitals, diagnostic centres and local pharmaceutical manufacturing capacity.
The Minister noted that the Federal Government, under President Bola Ahmed Tinubu, has established a robust policy and legislative framework to support healthcare financing through ongoing reforms.
He highlighted the achievements of the Basic Healthcare Provision Fund (BHCPF) established under the National Health Act 2014. According to him, over ₦339 billion has been disbursed in the last twelve years, including ₦235 billion in the past three years under the Health Sector Renewal Investment Initiative. The latest disbursement of ₦32.9 billion is currently supporting more than 8,300 Primary Healthcare Centres nationwide, with plans to expand coverage to approximately 13,000 facilities.
Dr. Salako stated further that Government is proposing an increase in the statutory allocation to the BHCPF from one percent to two percent of the Consolidated Revenue Fund, describing it as a demonstration of commitment to strengthening healthcare financing and encouraging private sector co-investment.
He urged state governments to fully comply with their counterpart funding obligations under the National Health Act to ensure sustainable financing of healthcare services.
On health insurance, the Minister said implementation of the National Health Insurance Authority (NHIA) Act 2022 has expanded enrolment to over 22 million Nigerians, a 35 percent increase since 2023. He, however, expressed concern that out-of-pocket expenditure still accounts for about 71 percent of total health spending, compared to the global benchmark of 15–20 percent.
To improve compliance, he disclosed a Presidential directive requiring private companies bidding for federal contracts to present valid NHIA health insurance certificates.
Dr. Salako also highlighted the Health Sector Renewal Investment Initiative and the Health Sector Strategic Blueprint 2024–2027 as the foundation of the ongoing transformation through a Sector-Wide Approach. He said the approach has delivered over 21 strategic policies, expanded tertiary institutions, established cancer centres of excellence and accelerated primary healthcare investments.
He further noted the $1.5 billion Human Capital Opportunities for Prosperity and Equity (HOPE) programme aimed at strengthening governance, education and primary healthcare delivery.
On healthcare industrialisation,
Dr. Salako said the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) is driving efforts to increase local production of medicines, diagnostics and medical devices to 70 percent by 2030.
He reported progress in the pharmaceutical sector, with registered companies rising from 180 in 2022 to over 200 in 2025, and local manufacturing now accounting for nearly 50 percent of healthcare products consumed in Nigeria. Nigeria, he added, now hosts Africa’s second-largest Rapid Diagnostic Test manufacturing plant and is preparing to establish the first Active Pharmaceutical Ingredients (API) plant in Sub-Saharan Africa.
The Minister also announced the National Power for Health Initiative to address energy challenges in health facilities, and the Medipool Programme, a 20-year PPP to strengthen local manufacturing through guaranteed public procurement.
He listed financing opportunities for investors including the CBN’s ₦100 billion Healthcare Sector Intervention Facility, the €50 million BOI–EIB Global Human Development Accelerator Programme, and the AfDB’s $200 million facility for growth-sector enterprises.
Dr. Salako urged providers and investors to strengthen corporate governance, improve financial reporting and focus on health insurance, diagnostics, primary healthcare and pharmaceutical manufacturing.
He commended the launch of the FCMB Dedicated Healthcare Fund as a strategic addition that aligns commercial capital with government policy. He stressed that sustainable transformation requires both government policy support and private sector investment.
Declaring the summit open, Dr. Salako described it as a platform for converting partnerships into tangible investments that will expand access to quality services and stimulate economic growth through healthcare industrialisation.
He commended FCMB, the Healthcare Federation of Nigeria and all stakeholders for their commitment to building a more resilient health system.
