L-R: Kunle Osukunle, Head, Corporate Banking, FSDH Merchant Bank; Stella-Marie Omogbai, Executive Director, Corporate Banking and Branches, FSDH Merchant Bank; Arjun Udani, Co‑CEO, Mecure Industries Plc; Fola Laoye, Co‑Founder and CEO, Iwosan Lagoon Healthcare Systems Limited; The Honourable Commissioner for Health, Lagos State, Prof. Akin Abayomi; Bukola Smith, MD/CEO, FSDH Merchant Bank; Tosin Runsewe, Founder and CEO, AfyA Care; Theresa Lawal, Head of Product Development & Strategic Alliances, Development Bank of Nigeria, and Bolaji Odunsi, Chairman & Founder, Marcelle Ruth Cancer Centre, at the FSDH Health Sector Roundtable, “Care Meets Capital,” which held in Lagos recently.
FSDH Merchant Bank has convened key stakeholders across Nigeria’s healthcare and financial services ecosystem at its Health Sector Roundtable themed “Care Meets Capital,” underscoring the urgent need to align healthcare delivery with sustainable capital to strengthen the country’s health system.
Held at The Wheatbaker in Ikoyi, Lagos, the closed-door session brought together healthcare founders, operators, policymakers, development finance institutions and investors to explore practical pathways for building resilient, investment-ready healthcare enterprises capable of delivering long-term value.
Delivering the keynote address, Lagos State Commissioner for Health, Akin Abayomi, emphasized the importance of aligning public policy with responsible private investment to build a healthcare system that is both equitable and economically viable.
“Healthcare is both a social necessity and an economic imperative,” Abayomi said. “If we are to build a system that is equitable, efficient and future-ready, we must intentionally align policy direction with responsible private investment and operational excellence. Sustainable healthcare requires innovative financing models, stronger governance frameworks and deeper collaboration between government and private capital.”
In her welcome remarks, Managing Director and Chief Executive Officer of FSDH Merchant Bank, Bukola Smith, highlighted the structural funding gaps within Nigeria’s health sector, noting that healthcare accounts for about 4.2 per cent of the 2026 national budget, while more than 70 per cent of total health expenditure is financed out-of-pocket by individuals and families.
“These figures tell a powerful story,” Smith said. “They show that while public funding remains limited, the burden of healthcare financing is largely borne by patients and private providers. Healthcare businesses are not only delivering care; they are carrying a significant share of the financial responsibility within the system. The private sector cannot bridge this gap alone, which is why stronger collaboration between financial institutions, development partners and government stakeholders is essential.”
A distinguished panel featuring Fola Laoye, Co-Founder and CEO of Iwosan Lagoon Healthcare Systems Limited; Tosin Runsewe, Founder and CEO of AfyA Care; and Theresa Lawal, Head of Product Development & Strategic Alliances at Development Bank of Nigeria, examined the gaps, trends, opportunities and challenges surrounding healthcare financing in Nigeria.
Discussions centered on access to structured and longer-tenor financing, foreign exchange exposure in equipment procurement, governance and compliance requirements, digital health expansion, and the delicate balance between affordability and quality care. Panelists stressed the need for financing models that recognize the unique investment cycles and capital intensity inherent in healthcare delivery.
The session continued with remarks from Stella-Marie Omogbai, Executive Director, Corporate Banking and Branches at FSDH Merchant Bank, who outlined how the Bank is strategically positioned to address financing gaps limiting the growth of Nigeria’s healthcare sector through tailored products and sector-focused expertise.
A fireside chat followed, featuring Bolaji Odunsi, Chairman and Founder of Marcelle Ruth Cancer Centre, and Arjun Udani, Co-Chief Executive Officer of Mecure Industries Plc. The conversation, moderated by Kunle Osunkunle, Head of Corporate Banking at FSDH Merchant Bank, provided practical insights into scaling specialist healthcare services and pharmaceutical manufacturing within Nigeria’s evolving economic landscape.
Industry leaders in attendance actively engaged the keynote speaker, FSDH executives and panelists with questions, receiving practical responses on risk management, blended finance structures, and strengthening governance frameworks to attract institutional capital.
In her closing remarks, Oladunni Ayobanjo, Head of the Health Desk at FSDH Merchant Bank, reaffirmed the Bank’s commitment to empowering Nigeria’s health sector through structured financing solutions and advisory services tailored to healthcare operators.
Through the “Care Meets Capital” initiative, FSDH Merchant Bank signalled its intention to deepen sector-focused engagement beyond capital provision, creating strategic platforms that foster dialogue, partnership and practical solutions aimed at scaling sustainable impact across Nigeria’s healthcare value chain.
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