BOI, EIB secures €50m fund to boost Nigeria’s healthcare, pharma value chain

The Bank of Industry (BOI) and European Investment Bank (EIB) recently announced a €50 million financing initiative aimed at strengthening Nigeria’s healthcare and pharmaceutical value chain.

The funding, according to the statement, is designed to improve access to long-term financing for healthcare and pharmaceutical enterprises, support the expansion of local manufacturing capacity, and enhance supply chain resilience across the sector.

The funding is also expected to improve health outcomes by increasing the availability of essential medicines and vaccines while reducing Nigeria’s dependence on imports.

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BOI said the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) played a central advisory role in structuring the facility. The initiative worked closely with both institutions to ensure alignment with national priorities, guiding sector focus, policy coordination, and stakeholder engagement.

Olasupo Olusi, managing director and chief executive officer of BOI, said the partnership underscores the bank’s commitment to targeted financing and collaboration.

“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.

The collaboration forms part of broader efforts to strengthen Nigeria’s health security by building domestic production capacity, encouraging innovation, and improving the reliability of pharmaceutical supply chains.

BOI, Nigeria’s leading development finance institution, was established in 1959 and reconstituted in 2001 to drive industrial growth and inclusive economic development. The bank provides long-term financing and advisory support to businesses across key sectors.

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Between 2023 and 2025, the BOI stated that it supported over one million enterprises and disbursed more than ₦1.27 trillion to businesses nationwide, aiming to expand productive capacity and improve access to finance, particularly for underserved segments.

With a nationwide presence and growing international partnerships, the bank continues to play a key role in supporting private sector-led growth and economic diversification.