Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has urged for sustainable health financing, expanded insurance coverage, and strategic investments in healthcare infrastructure reforms in Nigeria’s health sector.
Speaking on Thursday at the National Health Financing Dialogue in Abuja, themed “Reimagining the Future of Health Financing in Nigeria”, organized by the National Health Insurance Authority (NHIA).
Edun said these initiatives are vital for reducing out-of-pocket expenses, improving access to care, and building a more resilient and equitable healthcare system.
He explained that financing for health goes beyond budgets, stating that it involves creating a growing economy that generates jobs and incomes, reinvesting government revenues in health, and attracting private sector participation, where the real resources lie.
Edun stressed the importance of innovative financing mechanisms and strategic public-private partnerships in strengthening Nigeria’s healthcare system.
“This national health financing dialogue is about ensuring that Nigeria’s growing economy translates into meaningful investments in the health sector.
“It is about creating jobs, increasing incomes, reinvesting government revenues into health, and leveraging private sector resources where the real capital lies.
“Innovative financing and strategic public-private partnerships are critical if we are to build a healthcare system that serves every Nigerian efficiently,” he said.
Expanding healthcare infrastructure
Edun highlighted the economic and social benefits of expanding healthcare infrastructure, citing initiatives such as the establishment of radiology and oncology centers across Bauchi and other states.
“The more facilities we have locally, the less Nigerians spend foreign exchange traveling abroad for care. These centers also attract clients from outside Nigeria, generating foreign exchange and increasing utilization rates,” he explained.
On health insurance, Edun commended President Bola Ahmed Tinubu’s directive for mandatory coverage across all Ministries, Departments, and Agencies (MDAs).
He emphasized that insurance is essential for Nigerians to access timely care, especially in emergencies.
“If there is insurance, there must be enforcement. States must also support the National Health Insurance Scheme by subsidizing premiums for the poorest households and ensuring timely claims payments.
A system that works efficiently reduces financial barriers, strengthens providers’ cash flows, and makes the health sector investable,” he said.
Macroeconomic and fiscal considerations
Edun also discussed macroeconomic and fiscal factors influencing health financing. Citing Nigeria’s 3.4% economic growth last year, he stressed that job creation and poverty reduction initiatives are helping lift millions of Nigerians out of poverty, providing a stronger base for sustainable health investments.
He further noted that fiscal stability, moderating inflation, and strong external reserves are critical enablers for expanding healthcare access nationwide.
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On global funding challenges, Edun pointed out that reductions in international support such as the World Health Organization’s 40% funding cut have impacted Nigeria’s health programs.
“Our proactive Minister of Health recalibrated the budget to ensure continuity of critical programs in tuberculosis, malaria, and other priority areas.
This demonstrates how careful planning and resource mobilization can maintain health service delivery even amid external shocks,” he said.
Edun called for data-driven policy implementation, transparency, and stakeholder collaboration.
Health is wealth. For Nigeria to achieve universal health coverage, health insurance initiatives must function efficiently, becoming the first point of care, not the last.
“Sustainable financing, strategic infrastructure investment, and coordinated policies are essential to ensuring a resilient, inclusive, and effective healthcare system,” he said.
Commitment to strategic health investments
The Healthcare Financing Dialogue highlighted Nigeria’s commitment to aligning health sector investments with broader economic reforms, focusing on public-private partnerships, macroeconomic stability, and strategic resource allocation to enhance healthcare access and sustainability.
Edun reiterated that ensuring health insurance functions effectively, supported by coordinated policies and strategic investments, is essential for achieving universal health coverage and strengthening the overall healthcare system in Nigeria.
