By Sheriff Aderibigbe
On Thursday, 14th August 2025, the Nigerian Economic Summit Group (NESG), through its Health Policy Commission, convened a high-level Pre-Summit dialogue themed “Catalytic Capital for Healthcare: Bridging Nigeria’s Systemic Gaps.”
The event brought together senior policymakers, investors, and healthcare executives to explore how innovative, risk-tolerant financing models can strengthen Nigeria’s healthcare sector, bridge systemic gaps, and drive inclusive growth.
In her welcome address, Dr. Mories Atoki, Facilitator of the NESG Health Policy Commission, highlighted the urgent need for strategic partnerships to achieve Universal Health Coverage (UHC). She identified brain drain and underinvestment in diagnostics as critical challenges, stressing that affordable, quality diagnostics are essential for early detection, cost-effective treatment, and improved outcomes.
Dr. Atoki noted that catalytic capital which is strategic, risk-tolerant funding can de-risk early-stage projects, attract private investment, and unlock systemic change across the healthcare value chain, from primary care and infrastructure to local manufacturing.
Dr. Richardson Ajayi, in his opening remarks, posed a key question: “What is worth investing in?” He described the private healthcare sector as fragmented and dominated by individual practitioners, limiting large-scale investment opportunities.
He pointed out that health insurance penetration remains low, with 70–80% of healthcare costs paid out of pocket, while limited local manufacturing forces heavy reliance on imports which he described as an unsustainable approach amid foreign exchange challenges.
Delivering the keynote address, Ms. Fola Laoye, Co-Founder and CEO of Iwosan Investments Limited, underscored the importance of risk-tolerant financing in attracting sustainable private sector participation.
She noted that Nigeria’s healthcare market, valued at approximately ₦40 trillion ($15–20 billion), is projected to grow by 7–8% annually. She proposed the creation of an African Health Fund to reduce aid dependence and recommended allocating 25% of health insurance funds to infrastructure, establishing a sustainable capital base for the sector.
A panel session moderated by Dr. Ayodele Cole Benson, Thematic Lead for Health as a Business at NESG, examined strategies to scale local medical manufacturing, reduce import dependence, and attract private investment.
Ms. Olufunke Falade of the Nigeria Sovereign Investment Authority (NSIA) outlined efforts to supply raw materials such as APIs and excipients to support local producers. Dr. Austin Okogun, CEO/MD of Lily Hospital Group, discussed private sector-led healthcare innovation.
Managing Director of the MTN Foundation, Mrs. Odunayo Sanya reaffirmed the organisation’s commitment to sustainable development, describing its healthcare interventions as a “statement of faith” rooted in the belief that partnerships are vital for lasting impact.
She noted that the Foundation actively seeks collaboration opportunities, recognising that no single entity can address systemic challenges alone. Drawing on MTN’s broader CSR track record—including infrastructure projects such as road construction, she highlighted the organisation’s readiness to leverage its resources, networks, and data to catalyse change.
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She added that MTN’s sustained investment in community health has created a platform for other corporate players to join the effort, amplifying the impact of catalytic capital.
Participants agreed that strengthening Nigeria’s healthcare system is both a public health necessity and a driver of human capital development, economic productivity, and equitable growth. The dialogue also facilitated direct engagement between investors and healthcare providers, paving the way for future partnerships.
The Pre-Summit dialogue forms part of the build-up to the 31st Nigerian Economic Summit (NES #31), themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,” scheduled for October 6–8, 2025, at the Transcorp Hilton, Abuja. NES #31 will bring together leaders from government, business, and civil society to define reform priorities and pathways to shared prosperity.
*Mr Aderibigbe is of NESG Corporate Communications Department
