BoI secures 50m Euros EIB funding to boost healthcare
The healthcare and pharmaceutical industries are set for a major financing boost following a 50 million Euros facility secured by the Bank of Industry (BoI) from the European Investment Bank
The healthcare and pharmaceutical industries are set for a major financing boost following a 50 million Euros facility secured by the Bank of Industry (BoI) from the European Investment Bank (EIB).
The financing initiative, BoI confirmed in a statement, is structured to unlock long-term capital for healthcare and pharmaceutical enterprises across Nigeria, addressing one of the sector’s most persistent constraints—limited access to patient financing,
The facility, it said, is expected to catalyse expansion in local drug production, enhance resilience in medical supply chains and support improved health outcomes nationwide.
“The Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), which played a crucial advisory role in forming the fund’s structure, coordinated a robust multi-stakeholder cooperation at the heart of the deal. PVAC worked closely with both BOI and EIB to ensure the facility aligns with Nigeria’s healthcare priorities, policy direction and broader economic objectives,” the statement read.
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The initiative, BoI noted, is positioned as a strategic intervention within Nigeria’s health security framework, with a clear business focus on reducing import dependence and scaling domestic production capacity.
Speaking on the development, BoI’s Managing Director/Chief Executive Officer, Olasupo Olusi, emphasised the importance of coordinated financing and policy alignment in delivering sustainable impact.
“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,” Olusi said.
Beyond improving access to capital, the €50 million facility, BoI said, is expected to stimulate innovation within the healthcare sector, particularly in pharmaceuticals and vaccines, while supporting enterprises to scale operations and meet growing domestic demand. The funding also aligns with ongoing efforts to localise production of essential medicines, a move seen as critical to insulating the country from global supply disruptions.
For BoI, the deal reinforces its role as a key driver of industrial and economic development.
