Nigeria has saved more than $200 million in foreign exchange through investments by the Nigeria Sovereign Investment Authority (NSIA) in specialised healthcare services, as the agency moves to expand access to cancer, diagnostic and cardiac treatment across the country.

The savings have largely come from reducing the number of Nigerians travelling overseas for specialised medical care, particularly cancer treatment. According to the NSIA, treatment at its facilities can cost less than half the price of comparable services abroad, allowing patients to access advanced care within the country while keeping more healthcare expenditure in the domestic economy.

The Authority is now preparing for a major expansion of its healthcare network through its healthcare subsidiary, NSIA Advanced Medical Services Limited (MedServe).

The expansion will see the establishment of 13 new diagnostic centres, three oncology centres and three cardiac catheterisation laboratories across Nigeria. The programme will also introduce cardiology as a new service line for MedServe, extending specialised care to patients beyond the country's major urban centres.

For the NSIA, the investment represents more than an effort to build hospitals and diagnostic facilities. The Authority sees healthcare as both an investment opportunity and an area with significant economic and social benefits, particularly in a country that has historically spent substantial amounts of foreign exchange on overseas medical treatment.

Building healthcare capacity

NSIA Managing Director and Chief Executive Officer Aminu Umar-Sadiq said the Authority's healthcare strategy was designed to create a broader ecosystem capable of supporting quality medical services over the long term.

In a document released to the media, Umar-Sadiq said the programme extends beyond physical infrastructure to include the training of healthcare professionals, research, technology and strategic partnerships.

The approach is intended to ensure that the new facilities have the skilled personnel, modern equipment and institutional support required to provide sustainable specialised care.

One of the flagship investments is the MedServe-LUTH Cancer Centre in Lagos, which was commissioned in May 2019. The centre became the first oncology facility in Nigeria to offer 3D Conformal Radiotherapy, marking a major development in the country's cancer-treatment capacity.

The centre now has the largest concentration of radiotherapy equipment in West Africa. Since its establishment, it has treated approximately 15,000 patients, delivering more than 25,000 radiotherapy sessions and 10,000 chemotherapy treatments.

The facility also remained operational during the COVID-19 pandemic, when international travel restrictions made it significantly more difficult for Nigerians to seek treatment overseas.

According to the NSIA, the centre's combination of advanced treatment and comparatively lower costs has also resulted in some Nigerians being referred back from overseas providers to receive treatment locally.

Diagnostics reach hundreds of thousands

The Authority's investments in diagnostic services have similarly expanded access to advanced medical testing.

Its diagnostic centres in Kano and Umuahia had provided pathology and radiodiagnostic services to more than 410,000 patients by December 2025, according to the NSIA.

The agency said the centres have helped improve access to sophisticated diagnostic services in locations where such capabilities were previously limited.

Earlier and more accurate diagnosis can allow doctors to identify diseases sooner and make better-informed decisions about treatment, potentially improving outcomes while reducing the need for patients to travel to major cities or outside the country.

The next phase of the programme will extend the network to additional locations. Expansion will cover established healthcare markets such as Lagos, the Federal Capital Territory and Kaduna, as well as states including Oyo, Sokoto, Delta and Yobe.

The new centres are scheduled to begin commissioning from mid-2026.

IFC, IDA provide $24.3m financing

To support the expansion, MedServe secured up to $24.3 million in blended financing from the International Finance Corporation (IFC) and the International Development Association (IDA).

The financing is expected to reduce the cost of capital for the programme while helping MedServe provide specialised healthcare services at more affordable prices.

The funding arrangement comes as the NSIA seeks to balance commercial returns with broader development objectives, using investment in critical infrastructure to address gaps in Nigeria's healthcare system.

Global partnerships strengthen network

NSIA is also relying on partnerships with international medical technology companies to support the expansion.

The Authority is working with Siemens and GE under long-term arrangements covering medical equipment supply, maintenance, training and bulk procurement.

The partnerships are intended to improve the reliability of medical equipment and reduce the risk of facilities being left with expensive machines that cannot be maintained or operated effectively.

Training and maintenance arrangements are also expected to support service quality as MedServe expands its footprint across the country.

Beyond equipment and infrastructure, the organisation is developing what it describes as an oncology ecosystem centred on professional development, clinical research and international collaboration.

Its global partners include Memorial Sloan Kettering Cancer Centre, the University of Maryland Medical Centre and Bio Ventures for Global Health.

MedServe has also taken part in two global cancer trials focusing on prostate and breast cancer, potentially strengthening Nigeria's role in international medical research and providing local professionals with greater exposure to global clinical research.

Keeping healthcare spending in Nigeria

The NSIA's healthcare strategy comes against the backdrop of Nigeria's longstanding dependence on foreign medical services, which has seen patients spend significant sums abroad on treatments unavailable or perceived to be unavailable locally.

By expanding specialised treatment within Nigeria, the Authority hopes to reduce that dependence while creating a stronger domestic healthcare industry.

The economic benefits could extend beyond foreign-exchange savings. A larger specialised healthcare network could create demand for doctors, nurses, technicians, researchers and other professionals, while also attracting private-sector investment and encouraging the development of supporting industries.

For NSIA, the ultimate measure of the programme will therefore extend beyond the number of facilities constructed.

The Authority said its success would be judged by the patients treated, professionals trained, expertise retained and investment attracted into Nigeria's healthcare sector.

As the new centres come on stream, the initiative represents an attempt to turn healthcare investment into both a financial asset and a national development tool — keeping more patients, professionals and healthcare spending within Nigeria.