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NSIA Outlines Aggressive Healthcare Expansion Plan

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NSIA Healthcare Development Investment Company

**As Authority’s Infrastructure Intervention Excites Reps Committee Chairman

The Nigeria Sovereign Investment Authority on Monday received members of the House of Representatives who were in Lagos to inspect projects undertaken by the Authority and their impact on the economy.

Key areas of focus for the Lagos visits were Healthcare, Infrastructure and Agriculture.

The Ad-hoc Committee was constituted by the House of Representatives to investigate the activities of the Nigeria Sovereign Investment Authority (NSIA) since the inception of the Authority.

The committee during the visit hailed the management of the NSIA on their intervention in the healthcare sector.

The members of the House commenced their visit at the NSIA – LUTH Cancer Centre where the Chairman of the Committee, Hon. Ademorin Kuye, said the lawmakers were impressed with the quality of service being rendered to Nigerians at the cancer centre.

Since its inception, healthcare has been a keen area of focus for the Authority, deriving from which the NSIA Healthcare Development Investment Company was established to catalyze private sector investments to address infrastructure gaps, improve manpower, forge strategic collaborations, and promote healthier sg enrolment in healthcare services across the country.

Established in 2019, the NLCC – an outpatient cancer centre equipped with modern medical infrastructure has attended to over 10,000 unique persons living with cancer and has also deepened the capacity of medical and non-medical professionals within the oncology space.

Over the years, NLCC has reduced capital flight from medical tourism occasioned by cancer, created direct and indirect jobs and improved access to quality cancer care, thereby expanding possibilities for people living with cancer.

In addition to NLCC, the NSIA has also invested in two modern medical diagnostic centres collocated within the Aminu Kano Teaching Hospital and Federal Medical Center, Umuahia respectively.

NSIA is now in the process of scaling these interventions, with 3 additional Oncology centres, 23 additional diagnostic centres and 7 catheterization laboratories across the six geopolitical zones of Nigeria. NSIA’s wholly-owned medical services portfolio company, Medserve, has been set up to implement these projects.

The Committee Chairman said the facilities align with the vision and commitment of the government to ensure affordable and efficient cancer care for Nigerians.

He explained, “We are investigating how much has been put into the development of this place. We have seen a lot of modern medical equipment that has been brought to this place.

“We are also seeing the quality of service being rendered to Nigerians and we are impressed and we will go back to report to the entire parliament and tell them that we need more of this in other places.”

He revealed that while talking to patients that they met during the oversight, they, “admitted that the charges here are the lowest compared to what happens in other areas like Ghana and other African countries. They are still pleading that the government should subsidize it more.

“We noted suggestions, which will be taken to the house to deliberate on. Nigeria already has centres for treating infectious diseases with qualified experts on it.

“But we will continue to develop more, we do not have enough cancer centres and there is a need for more investment in our health sector.

“And the government has assured us that they will continue to do that. And we at the parliament, will continue to appropriate sufficient funds.”

Also speaking during the visit by the lawmakers, the Managing Director of NSIA Healthcare Development Investment Company, Dr Tolulope Adewole, revealed ongoing expansion by the Authority, as part of efforts to contribute towards addressing the country’s healthcare challenges.

“We have started the expansion plan already, We had MoUs signed by different states, signed with different tertiary hospitals, and some of the equipment needed is ready to be disbursed.

“We hope to go live in the next 24 months We have a project in which we are building four diagnostic hospitals, in each geo-political zone and that will be done in two phases.

“We are upscaling from one oncology centre to four: one in the north, east, and finally Abuja. The cost is variable, so we can’t say what it will all cost us, ” he added.

The Committee also visited the Golden Fertilizer Company Limited blending plant resuscitated under the Presidential Fertilizer Initiative managed by the NSIA.

The PFI was designed in 2016 to consistently deliver commercially significant quantities of affordable, high-quality fertilizer to Nigerian farmers.

PFI was also designed to revive the local blending industry and adopt an import substitution approach by ensuring that over 60 per cent of urea and limestone required for the production of fertilizers are sourced locally at the revived blending plants.

The PFI has so far revived and established over 70 blending plants including Golden, and Apapa, – across the 6 geo-political zones in Nigeria.

The Initiative also facilitated local production and supply of NPK at affordable prices to farmers, which has correspondingly improved food security and slowed down food inflation in Nigeria.

Additionally, the PFI has reduced capital flight through import substitution, delivered over 60 million, 50kg bags of fertilizer and created more than 100,000 direct/indirect jobs within Nigeria.

By expanding production capacity for the blenders under the Presidential Fertilizer Initiative, the prices of NPK have dropped from about N11,000 per 50kg bag in 2016 to 5,000 per 50kg bag in 2020.

During the inspection of the fertilizer blending plant, the Committee expressed satisfaction with the impact that the initiative is creating in terms of job creation, food availability, forex conservation, and increase in yield for farmers.

They, however, pledged to assist in ensuring that middlemen don’t take advantage of the good intentions of the government under the initiative to create scarcity of the product and exhort Nigerians.

The Committee rounded off their assignment with a visit to the Lagos Ibadan Expressway, a 127.6 km long, busy interstate road, that cuts through Lagos, Ogun and Oyo states.

The Chairman expressed satisfaction with the progress of the project.

The Lagos-Ibadan Expressway is one of the oldest and busiest routes in Africa with the potential to unlock significant economic activities and support the seamless movement of people, goods and services around Lagos, Oyo and Ogun States.

The Lagos Ibadan Expressway is one of the projects under the Presidential Infrastructure Development Fund.

The PIDF was established by the Presidency in 2018 to accelerate the execution of certain critical infrastructure projects pivotal for the country’s development.

The NSIA was mandated by the Presidency to act as project and fund managers for the projects under PIDF.

Other infrastructure projects under the PIDF also managed by the NSIA include Abuja – Kano Road and Second Niger Bridge.

The financing of these projects has the potential to yield between 274,000 to 616,000 direct and indirect jobs.

During the visit, the NSIA Executive Director of Investments, Mr Kola Owodunni, told the lawmakers that the Authority NSIA remains focused on enabling overall socio-economic growth through diversification for Nigerians across key sectors including innovation and technology, agriculture, power, gas industrialization and financial market infrastructure.

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Polaris Bank Sponsors Free Breast, Prostate Cancer Screenings

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Polaris Bank free cancer screenings

By Modupe Gbadeyanka

To commemorate World Cancer Day observed on Wednesday, February 4, 2026, Polaris Bank Limited is bankrolling free screenings for breast and prostate cancers across the country.

The financial institution partnered with a non-governmental organization (NGO) known as Care Organization and Public Enlightenment (COPE) for this initiative.

At least 100 women would be screened during the exercise, scheduled for Saturday, February 21, 2026, at the C.O.P.E Centre on 39B, Adeniyi Jones Avenue, Ikeja, Lagos, from 10:00 am to 2:00 pm.

The exercise will be conducted by trained health professionals and volunteers, ensuring participants receive both screening services and educational guidance on cancer prevention, self-examination, and follow-up care.

To participate in the free breast cancer screening programme, the applicants must be women, must be Polaris Bank account holders, and must have registered ahead of the day via bit.ly/BCS2026, with selection based on early and confirmed submissions.

Polaris Bank said the initiative was designed to promote awareness, screening, early detection, and preventive care, reinforcing its belief that access to health services is a critical foundation for individual and economic well-being.

The organization is already supporting an on-going free prostate cancer screening programme for 250 men aged 40 years and above across Nigeria.

The prostate cancer screening is being conducted at the Men’s Clinic, situated at 18, Commercial Avenue, Sabo, Yaba, Lagos, providing accessible, professional medical support for male participants seeking early detection and preventive care for prostate cancer.

Both initiatives (free breast and prostate cancer screenings) directly aligns with the United Nations Sustainable Development Goals, particularly SDG 3 (Good Health and Well-being) through improved access to preventive healthcare and early detection services, SDG 5 (Gender Equality) by prioritizing women’s health and empowerment, and SDG 17 (Partnerships for the Goals) through strategic collaboration with civil society organizations such as C.O.P.E to deliver community-centered impact.

Educational materials, community engagement sessions, and digital awareness campaigns will be deployed to reinforce key messages around early detection, lifestyle choices, and the importance of regular medical check-ups.

The Head of Brand Management and Corporate Communications for Polaris Bank, Mr Rasheed Bolarinwa, emphasised that early detection remains one of the most effective tools in the fight against cancer.

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NSIA Gets IFC’s Naira-financing to Scale Oncology, Diagnostic Services

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NSIA MedServe

By Adedapo Adesanya

International Finance Corporation (IFC), a subsidiary of the World Bank, and the Nigeria Sovereign Investment Authority (NSIA) have partnered to provide Naira-denominated financing to NSIA Advanced Medical Services Limited (MedServe), a wholly owned healthcare subsidiary of the country’s  wealth fund.

Supported by the International Development Association’s Private Sector Window Local Currency Facility, this financing enables MedServe to scale critical healthcare infrastructure while mitigating foreign exchange risks. IFC is a member of the World Bank Group.

The funds will support MedServe’s expansion program to establish diagnostic centers, radiotherapy-enabled cancer care facilities, and cardiac catheterisation laboratories across several Nigerian states.

These centres will feature advanced medical technologies, including CT and MRI imaging, digital pathology labs, linear accelerators, and cardiac catheterisation equipment, thereby enhancing specialised diagnostics and treatment.

MedServe provides sustainable service delivery with pricing that matches local income levels, helping ensure broader access to affordable oncology care for low-income patients.

The initiative will deliver over a dozen modern diagnostic and treatment centers across Nigeria, create 800 direct jobs, and train more than 500 healthcare professionals in oncology and cardiology specialties.

The total project size is $154.1 million, with IFC contributing roughly N14.2 billion ($24.5 million) in long-tenor local currency financing, marking IFC’s first healthcare investment in Nigeria using this structure.

This comes as Nigeria advances its aspirations for Universal Health Coverage. This partnership provides an opportunity to leverage private investment to complement government efforts to expand oncology care and diagnostic services.

IFC’s provision of long-tenor Naira financing addresses a significant market gap and unlocks institutional capital for healthcare infrastructure with strong development upside while MedServe’s co-location strategy with public hospitals maximises capital efficiency and strengthens the public-private ecosystem, establishing a replicable platform for future investment.

“This partnership with IFC represents a significant milestone in NSIA’s commitment to strengthening Nigeria’s healthcare ecosystem through sustainable, locally anchored investment solutions,” said Mr Aminu Umar-Sadiq, managing director & chief executive of NSIA.

He added, “By deploying long-tenor Naira financing, we are addressing critical infrastructure gaps while reducing foreign exchange risk and ensuring that quality diagnostic and cancer care services are accessible to underserved communities. MedServe’s expansion underscores our belief that commercially viable healthcare investments can deliver strong development impact while supporting national health priorities.”

“This ambition is consistent with our broader vision for Africa, one where resilient health systems and inclusive growth reinforce each other to deliver long-term impact across the continent,” said Mr Ethiopis Tafara, IFC Vice President for Africa.

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Lagos Steps up Mandatory Health Insurance Drive

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Mandatory Health Insurance Drive

By Modupe Gbadeyanka

Efforts to entrench mandatory health insurance through the Ilera Eko Social Health Insurance Scheme in Lagos State have been stepped by the state government.

This was done with the formal investiture of the Commissioner for Health, Professor Akin Abayomi, and the Special Adviser to the Governor on Health, Mrs Kemi Ogunyemi, as Enforcement Leads of the Lagos State Health Scheme Executive Order and ILERA EKO Champions.

The Commissioner described the recognition as both symbolic and strategic, noting that Lagos is deliberately shifting residents away from out-of-pocket healthcare spending to insurance-based financing.

“We have been battling with how to increase enrolment in ILERA EKO and change the culture of cash payment for healthcare. Insurance is a social safety net, and this mindset shift is non-negotiable,” he said.

He recalled that Lagos became the first state to domesticate the 2022 National Health Insurance Authority (NHIA) Act through an Executive Order issued in July 2024, making health insurance mandatory. He stressed that the decision reflected the Governor’s strong commitment to healthcare financing reform, adding, “When Mr. Governor personally edits and re-edits a document, it shows how critical that issue is to the future of Lagosians.”

Mr Abayomi also warned against stigmatisation of insured patients, describing negative attitudes towards Ilera Eko enrolees as a major barrier to uptake. “If someone presents an Ilera Eko card and is treated as inferior, uptake will suffer. That must stop,” he said, pledging to prioritise insurance compliance during facility inspections. “The key question I will keep asking is: ‘Where is the Ilera Eko?’”

In her remarks, Mrs Ogunyemi, said the enforcement role goes beyond a title, stressing that the health insurance scheme is now law.

“This is about Universal Health Coverage and equitable access to quality healthcare for everyone in Lagos State,” she said, noting that ILERA EKO aligns with the state’s THEMES Plus Agenda.

She commended the Lagos State Health Management Agency (LASHMA) for aggressive sensitisation efforts across the state, saying constant visibility was necessary to address persistent gaps in public knowledge. “People are still asking, ‘What is Ilera Eko?’ ‘Where do I enrol?’ Those questions tell us the work must continue,” she said.

She urged all directors and health officials to mainstream Ilera Eko promotion in every programme and engagement, emphasising that responsibility for health insurance advocacy does not rest with LASHMA alone. “When people come with medical bills, the first question should be: are you insured?” she said, adding that early enrolment remains critical as premiums rise over time.

Earlier, the Permanent Secretary of LASHMA, Ms Emmanuella Zamba, said the investiture marked a critical step in positioning leadership to drive enforcement of the Executive Order across the public service.

“What we are undertaking is pioneering in Nigeria. All eyes are on Lagos as we demonstrate how mandatory health insurance can work,” she said.

Ms Zamba disclosed that enforcement nominees across Ministries, Departments and Agencies have been trained, with a structure in place to ensure compliance beyond the health sector.

According to her, “This initiative cuts across the entire public service, particularly public-facing MDAs, in line with the provisions of the Executive Order.”

She explained that the formal designation of the Commissioner and the Special Adviser as Enforcement Leaders was meant to strengthen compliance, alongside the Head of Service, while also recognising their consistent advocacy for universal health coverage. “This decoration is to amplify their roles and appreciate the leadership they have shown,” she said.

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