The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria is leveraging healthcare as a strategic engine for economic growth after the federal government sealed a landmark healthcare investment agreement with Nigeria Sovereign Investment Authority (NSIA) ,International Finance Corporation (IFC) and MedServe.
The partnership, aims to expand access to diagnostic, oncology, and cardiology services nationwide, while mobilising private capital into a sector that has traditionally been underfunded.
Speaking at the ceremony, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasised that the agreement underscores the government’s commitment to using public-private partnerships to deliver social impact and economic returns.
“Investing in healthcare is investing in the economy. This partnership will create jobs, develop skills, attract long term capital, and strengthen Nigeria’s domestic healthcare capacity,” the minister said.
Edun highlighted NSIA’s expanding oncology network as evidence that world class healthcare infrastructure can be built locally, reducing Nigeria’s reliance on costly medical tourism.
“By building top-tier healthcare facilities at home, we are not only saving foreign exchange but also creating opportunities for our workforce and investors,” he added.
The minister stressed that robust domestic healthcare systems enhance productivity, retain capital in the economy, and support long term human capital development. He also described the IFC’s involvement as a model for combining financing and technical expertise to unlock private sector investment, with additional support from the World Bank.
“This framework can be replicated across other critical sectors to deliver inclusive growth, enhance public services, and strengthen long-term economic resilience,” Edun said.
The agreement is expected to broaden access to specialised healthcare services, strengthen investor confidence, and reinforce the government’s agenda of leveraging private sector partnerships to achieve sustainable economic development.