PVAC Secures Billions In Euro And Dollar Guarantees To Boost Healthcare Investment
Abuja, Nigeria – February 14, 2026
The (PVAC) has secured billions of euros and dollars in guarantor financing to accelerate investment in Nigeria’s healthcare manufacturing sector.
PVAC National Coordinator, , disclosed that the initiative has successfully arranged €1 billion in guarantor financing from the (EIB) to support education and healthcare manufacturing. In addition, another US$1 billion has been secured from the (AFREXIMBANK).
Dr. Mukhtar explained that the initiative operates under the leadership of the Coordinating Minister of Health and Social Welfare, , and at the direction of President , with a clear mandate to unlock local production capacity and reduce Nigeria’s reliance on imported medical products.
Strengthening Nigeria’s Healthcare Manufacturing Base
According to Dr. Mukhtar, the secured financing will serve as risk guarantees for investors seeking to establish bankable healthcare manufacturing industries in Nigeria. The move is expected to catalyze private sector participation, improve investor confidence, and drive large-scale industrialization within the health value chain.
PVAC currently has about 85 projects in its pipeline, spanning pharmaceuticals, diagnostics, medical devices, and consumables. Several of these projects are expected to materialize this year as a result of presidential intervention and coordinated government support.
Key Projects Set for Commissioning
Among the flagship initiatives slated for delivery is the commissioning of a test kits manufacturing company in Port Harcourt, aimed at strengthening Nigeria’s domestic diagnostic capacity and reducing import dependency.
In Anambra State, the localization of family planning products is described as a “game changer” for reproductive health services and supply chain resilience. The project is expected to enhance affordability, accessibility, and long-term sustainability of essential health commodities.
Meanwhile, in Kano State, the Federal Government is supporting a major pharmaceutical company that is set to produce millions of tablets annually for distribution across Nigeria and West Africa. The development is projected to significantly expand regional pharmaceutical output and create jobs along the value chain.
Driving Economic Growth and Health Security
The guarantor financing from EIB and AFREXIMBANK is seen as a transformative milestone for Nigeria’s healthcare sector. By reducing investment risk and unlocking capital flows, PVAC aims to position Nigeria as a regional hub for healthcare manufacturing.
Industry analysts note that local production of pharmaceuticals and medical supplies not only strengthens health security but also contributes to economic diversification, job creation, and technology transfer.
With billions secured in euro and dollar guarantees and dozens of projects advancing toward implementation, PVAC’s efforts signal a decisive shift toward self-reliance, industrial growth, and improved healthcare outcomes for Nigerians and the wider West African region.
