The Bank of Industry (BoI) has restated its commitment to revitalizing Nigeria’s healthcare system through strategic investments aimed at reducing medical tourism and halting the growing trend of brain drain in the sector.
This assurance was given by Ifeoma Uz’Okpala, Executive Director, Large Enterprises at BoI, during an inspection visit to an ongoing hospital development by Nisa Premier Hospital in Maitama, Abuja. The project, which is being funded by the Bank of Industry, was also visited by members of the Senate Committee on Industries as part of their oversight function on BoI-supported projects.
Uz’Okpala described the hospital initiative as a major milestone in the bank’s ongoing efforts to strengthen Nigeria’s healthcare infrastructure and ensure that citizens have access to quality medical services without the need to seek treatment abroad.
“Our partnership with Nisa Premier Hospital is not just about financing infrastructure—it is about changing the narrative in Nigeria’s health sector. We are investing in projects that help Nigerians access world-class care at home,” she said.
She further noted that BoI’s investment in healthcare is driven by the goal of reducing the country’s heavy reliance on foreign medical services, which has led to massive capital flight and a consistent loss of skilled professionals.
The scale of the challenge was recently highlighted by Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, who revealed that Nigerians spent an estimated $40 billion on overseas education and medical treatment between 2010 and 2020. A large portion of this amount went to foreign hospitals, reflecting the lack of confidence in local healthcare institutions.
Uz’Okpala emphasized that BoI is focused on changing this trend by supporting the development of modern, well-equipped, and professionally staffed hospitals within the country. According to her, such investments not only improve healthcare delivery but also create employment opportunities, encourage knowledge retention, and boost investor confidence in the health sector.
The Nisa Premier Hospital project in Maitama is among several initiatives supported by BoI under its healthcare intervention program. The bank provides funding support to credible health institutions that are focused on delivering quality services while meeting global operational standards.
Members of the Senate Committee on Industries who visited the site expressed satisfaction with the progress and quality of the facility. They commended BoI for its strategic focus on critical sectors like healthcare, describing the partnership with Nisa as an example of how development finance can address national challenges.
As part of its broader mandate, BoI continues to fund healthcare-related projects, including private hospitals, diagnostic centres, and pharmaceutical manufacturers. These efforts are geared toward creating a sustainable health ecosystem that will ultimately reduce Nigeria’s dependence on foreign medical services and improve access to affordable care.
With sustained public-private partnerships and targeted investments like this, Nigeria is gradually building the capacity to meet the health needs of its citizens and keep more professionals within the country—ushering in a future where world-class healthcare is not abroad, but right at home.
