The Alternative Bank has introduced a healthcare financing initiative aimed at reducing Nigeria’s dependence on imported medicines and strengthening local drug production.
The move responds to rising healthcare costs, foreign exchange pressures, and long-standing concerns about pharmaceutical supply security in the country. Africa continues to carry a high disease burden while importing most of its medicines, creating pressure on local healthcare systems.
According to the bank, the initiative will support pharmaceutical manufacturers through non-interest, asset-backed financing designed to match business cash flow realities. This approach is intended to make funding more accessible and sustainable for local producers.
The financing package includes support for stock acquisition, distribution networks, supply chain management, and revolving drug funds to improve medicine availability across Nigeria.
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Beyond manufacturing, the bank also plans to support wider healthcare systems such as health insurance solutions, digital health platforms, and financing tools for healthcare providers.
Officials say the initiative will help reduce import dependency, ease pressure on foreign exchange demand, and create jobs across the healthcare value chain, including production, logistics, and distribution.
The bank also emphasized support for local manufacturers building WHO-compliant facilities and developing Nigeria-focused medical solutions.
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