Health
Heritage Bank Offers Robust Loans to Medical Equipment Importers, Backs AFRICANMED
By Modupe Gbadeyanka
A partnership has been signed by Heritage Bank Plc with AFRICANMED and the Chinese community in Nigeria. The deal aims at developing the country’s health sector and bringing down the rate of medical tourism by Nigerians.
MD/CEO of Heritage Bank, Mr Ifie Sekibo, who disclosed this at the maiden edition AFRICANMED exhibition of top brands of medical equipment from China in Lagos recently, said there was an urgent need to reduce the huge foreign exchange which Nigerians spend every year on medical tourism.
He explained that Heritage Bank would find it easy to provide finance for interested buyers of the medical equipment from China because it already has a robust correspondent banking relationship with Deutsche Bank of China and Access Bank of China. The relationship, he said, would enable Heritage Bank to seamlessly open letters of credit for interested buyers.
Mr Olugbenga Awe, Group Head, Agric and Export, Heritage Bank, who represented Mr Sekibo, said since some of the equipment cost millions of dollars, the bank would not expect the buyers to tie down such heavy amount of money, adding that the bank will support interested buyers with robust loans that will enable them to acquire the equipment and pay back over a period of two years.
“We are willing and ready to support with funding as far as this equipment are concerned,” he said, adding that the bank is working with AFRICANMED to develop a bespoke solution that will enable prospective buyers to buy the products while the bank pays on their behalf.
He said the recent $2.5 billion currency swap deal between the Central Bank of Nigeria (CBN) and the Chinese central bank would help as the bank would have enough funding through that arrangement to meet the needs of interested buyers.
AFRICANMED was recently set up in Nigeria to congregate top brands of Chinese medical equipment and healthcare solutions provider companies focusing on the “Selection of Intelligently made-in-China products, to serve the African people.”
Based on big data of medical supply chain, the company will provide comprehensive online and offline service platforms for all kinds of African medical institutions, hospitals, specialist care, small and medium-sized distributor financing, procurement and inventory using Nigeria as the hub of its operation on the African continent.
Also speaking, Group Chief Executive Officer of AFRICAMED, Mrs Rainy Liu, said the maiden edition of the exhibition, which was like a launch, was organised to create awareness about the company among Nigerians. She said there is a need for Nigerians to know that the company has come to offer the best medical equipment and healthcare solutions from China to Nigeria and the rest of the African continent at affordable cost.
Mrs Liu said the objective is to make healthcare solutions accessible and affordable to the masses in Nigeria and other African countries, remarking that besides Nigeria, the company has offices in Ghana, Uganda, Kenya, Ethiopia and South Africa.
She said there are professional teams in China that specialize in quality control through detailed screening in order to ensure that customers purchase the best cost-effective products.
“The teams also have stringent supplier selection and evaluation system to ensure that the medical products represent the most advanced technology and the best quality in China
“Besides this, they have signed strategic cooperation agreements with more than 50 well-known brand manufacturers and most of them are listed companies, such as Mindray, Neusoft, WDM, Aeno, Yuwell, Lifetech, David DIRUI, WEGO, Winner, SonoScape and EDAN, among others, to avoid your being confined to the substandard No Name brands that swarm into Chinese open market.”
The Group CEO said the company has the most dedicated sales teams in Africa to provide pre-sales, on-sales, and after-sales consultancy, which would help to reduce transaction processes and costs of medical equipment, thereby making medical equipment procurement easier.
She said in response to the high demand for repetitiveness and taking the wishes of customers into consideration, the company would formulate centralized container purchasing and periodic inventory replenishment system so that buyers could truly enter the era of digital management of medical equipment procurement.
The company also has online professional after-sales teams with a nationwide target of more than 100 engineers allocated in different states and cities so that customers could get quick professional services after they click on the service requests.
The company’s online platform will be available for use by medical outfits to register on and open their online shop to post their inventory information and trade online.
Health
WHX in Lagos 2026: Nigeria Open for Healthcare Investment—FG
By Modupe Gbadeyanka
The federal government has urged global investors and innovators to tap into the Nigerian healthcare ecosystem, which is projected to grow by 7.1 per cent, reaching a market value of $161.7 million by 2027.
This advice was given by the Minister of State for Health and Social Welfare, Mr Isiaq Salako, at the opening of the World Health Expo (WHX in Lagos 2026), formerly known as Medic West Africa, on Tuesday in Lagos.
The broader West African market is expected to reach more than $11 billion, providing investors with an opportunity to get a good return on investment.
“Nigeria is open for healthcare investment. We want platforms like WHX in Lagos to serve as a critical conduit for translating this investment ambition into tangible technology access for our hospitals and patients,” the Minister, who declared the event open on behalf of President Bola Tinubu, said.
He praised the organisers of the expo, which welcomed over 8,000 healthcare professionals and 500 exhibitors spanning 40 countries, for growing the programme into a vital catalyst for West African healthcare transformation.
Addressing the stark reality that between 85 per cent and 99 per cent of medical equipment and in vitro diagnostics in West Africa are currently imported, Mr Salako outlined aggressive federal interventions designed to dismantle supply chain vulnerabilities and skyrocket local manufacturing capabilities.
He also spotlighted key presidential directives, including the Presidential Initiative to Unlock Healthcare Value Chains (PVAC) and the Presidential Executive Order for the Pharmaceutical and Allied Sectors, both engineered to catalyse health security, drive economic growth, and generate employment through strategic private-sector collaborations and Public-Private Partnerships (PPPs).
“Our commitment to improving access to modern equipment and technologies in hospitals is backed by concrete action. The government has inaugurated the $1.2 billion Sector-Wide Approach (SWAP) initiative, a comprehensive overhaul addressing financing, workforce development, and infrastructure.
“Furthermore, for the 2025 fiscal year, the Federal Government committed N402 billion specifically for health sector infrastructure investment,” he stated, also highlighting an expansive health infrastructure upgrade program in partnership with the Nigeria Sovereign Investment Authority (NSIA).
According to him, this phased initiative is actively delivering oncology and nuclear medicine centres across six tertiary hospitals, alongside establishing 22 modern medical diagnostic centres, seven cardiac catheterisation laboratories, and expanded radiology and clinical pathology capabilities distributed across Nigeria’s six geopolitical zones.
Also speaking, the chief executive of EHA Clinics, Dr Ifunanya Ilodibe, stressed the urgent need to support and unify fragmented growth within the healthcare system, noting that WHX serves as the precise ecosystem platform required to bring together policymakers, clinicians, and investors to move actionable strategies forward.
Also, the President of the Healthcare Federation of Nigeria (HFN) and Country Director of PharmAccess, Njide Ndili, said, “HFN bridges the gaps in health financing, opening up critical connections to achieve true health sovereignty,” praising Africa CDC’s historical intervention, particularly during the Ebola crisis and urged participants to utilise the WHX exhibition floor to forge collaborations capable of scaling locally produced medical equipment.
The Lagos State Commissioner for Health, Mr Akin Abayomi, on his part, highlighted the enforcement of the National Health Insurance Authority (NHIA) Act in Lagos State as a landmark regulatory milestone. The Act mandates health insurance for all residents, structuring the financial environment to guarantee medical protection across various socioeconomic levels.
Delivering the keynote address, the Special Regional Representative of the Director General of the Africa CDC Western Regional Coordinating Centre, Prof. Aliko Ahmed, called on leaders in geopolitical positions to enact liberating trade policies aligned with the African Continental Free Trade Area (AfCFTA) to shape the continental agenda, emphasising that the Africa CDC will fiercely prioritise building trust in locally manufactured healthcare products.
WHX in Lagos 2026 runs for three days, featuring accredited forums, cutting-edge product showcases, and high-level networking tracks designed to translate billions in public and private investment into immediate technology access for hospitals and patients.
Health
Euracare Secures Court Order Halting Inquest into Chimamanda Son’s Death
By Adedapo Adesanya
The coroner’s inquest into the death of 21-month-old Nkanu Adichie-Esege, son of renowned author Chimamanda Ngozi Adichie, suffered a major setback on Wednesday after Euracare Multi-Specialist Hospital informed the coroner’s court that it had obtained an order of the Lagos State High Court staying further proceedings in the probe.
The matter came before Coroner Magistrate Atinuke Adetunji at Court 9, Igbosere Magisterial District, Yaba, Lagos, and was scheduled for the commencement of witness’ testimony.
Counsel to Euracare Multi-Specialist Hospital, Professor Taiwo Osipitan (SAN), told the court that the hospital had initiated judicial review proceedings challenging, among other issues, the jurisdiction of the Coroner’s Court to conduct the inquest in the absence of the deceased’s body.
He disclosed that the High Court had granted leave for the judicial review application and ordered that the leave operate as a stay of proceedings pending the determination of the suit.
The senior advocate also informed the court that although the Lagos State Attorney-General’s Office denied seeing the originating processes from the High Court, proof of service was available.
Responding on behalf of the family, Mr Kemi Pinheiro (SAN) confirmed receipt of both the originating processes and the High Court order.
While acknowledging the obligation of all parties to comply with court orders, he informed the coroner that the family had already filed four witness statements on oath, including that of Dr Ivara Esege, as well as statements from independent medical experts from Nigeria and the United States, who are expected to testify at the inquest.
Mr Pinheiro urged the court not to adjourn the matter indefinitely, but to a definite date after the court vacation to enable parties to report on developments in the High Court proceedings.
He also highlighted the need for transparency and public confidence in the fact-finding process, saying, “He who is innocent does not fear an open inquest.”
Counsel representing Atlantis Paediatric Hospital supported the request for a definite adjournment rather than an indefinite postponement.
Following submissions by counsel, the Coroner adjourned the matter until October 8, 2026, for a report on the status of the High Court proceedings.
Health
Gavi Promises $50m for Bundibugyo Ebolavirus Vaccines
By Modupe Gbadeyanka
About $50 million has been promised by Gavi, the Vaccine Alliance, through its First Response Fund (FRF), to support the response to the ongoing Bundibugyo ebolavirus outbreak.
A statement from the organisation made available to Business Post on Monday said up to $40 million would be available to enable accelerated access to investigational doses and, eventually, approved vaccines, while a further $10 million would support outbreak response and protection of routine immunisation services in impacted countries.
“We need to act now to ensure that, once one or more vaccine candidates are ready, manufacturers are in a position to start producing doses at scale,” the chief executive of Gavi, Dr Sania Nishtar, was quoted as saying.
“Leveraging this allocation, Gavi will work closely with CEPI and partners to design the right incentives to achieve this goal, exploring all options, including potential Advance Purchase Commitments.
“This effort, alongside ensuring emergency funds are on hand to support outbreak response and protect routine immunisation services in the communities impacted, is exactly what our First Response Fund was designed for,” Dr Nishtar added.
The First Response Fund is the only globally approved mechanism that allows “at-risk” financing for scaled-up production of vaccines under development. This means Gavi is able to make vital early investments even when development outcomes are uncertain.
The $40 million in immediate surge financing that has been approved today will enable manufacturers of the leading candidates of a vaccine against the Bundibugyo virus to directly commit to high-capacity manufacturing.
This, in turn, will ensure that, as soon as clinical trials demonstrate positive outcomes, investigational vaccine doses could be deployed rapidly to support outbreak response.
Looking to the longer-term, Gavi will also provide incentives for manufacturers to adopt the fastest pathways towards WHO Emergency Use Listing (EUL) and/or WHO Prequalification (PQ), which are critical global approvals that will enable the rapid use of these vaccines in future emergencies.
In the coming weeks, Gavi will finalise the design of a financial mechanism that leverages the $40 million FRF allocation to achieve these vaccine access goals, in close partnership with the Coalition for Epidemic Preparedness Innovations (CEPI) as well as WHO, Africa Centres for Disease Control and Prevention (Africa CDC) and UNICEF.
The final design will take into account the characteristics of individual vaccine candidates and the needs of their manufacturers and may include mechanisms such as Advance Purchase Commitments. Work will also be undertaken to ensure successful candidates from African-based vaccine manufacturers can benefit from accelerated support through Gavi’s African Vaccine Manufacturing Accelerator (AVMA) initiative.
In addition to these investments, Gavi will also immediately release US$ 10 million to support countries and partners with outbreak response.
This funding will support implementation of national outbreak response plans, including targeted investments to protect routine immunisation, protect health care workers and ensure readiness for future vaccines. Gavi will work closely with countries, partners including Africa CDC, WHO, UNICEF, World Bank, and donors to ensure these investments complement other efforts.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
