The Nigeria Sovereign Investment Authority (NSIA) and the International Finance Corporation (IFC) have signed a $154.1 million deal to fund the expansion of Oncology Centres across Nigeria.
The partnership is to strengthen access to quality diagnostic and cancer care services in varoius parts of ghe country.
Through the partnership, the IFC, (the Private sector window of the World Bank Group) would provide naira-denominated financing to Advanced Medical Services Limited (MedServe), a wholly owned healthcare subsidiary of the NSIA.
The IFC would contribute about $24.5 million (about N14.2 billion) in long-tenor local currency financing, marking IFC’s first healthcare investment in Nigeria, using this structure.
The financing would enable MedServe to scale critical healthcare infrastructure while mitigating foreign exchange risks.
With the funds, MedServe would vigorously pursue its expansion programme to establish diagnostic centers, radiotherapy-enabled cancer care facilities, and cardiac catheterization laboratories across several Nigerian states.
These centers would feature advanced medical technologies, including CT and MRI (Computed Tomography and Magnetic Resonance Imaging), digital pathology labs, linear accelerators, and cardiac catheterization equipment, enhancing the provision of specialized diagnostics and treatment.
