By Etop Ekanem

Fidson Healthcare Plc has commended the Bank of Industry (BoI) for providing concessionary financing that has supported the growth of pharmaceutical manufacturing in Nigeria.

The commendation followed a visit by delegations from the European Investment Bank (EIB) and BoI to Fidson’s manufacturing facility in Sango-Ota, Ogun State.

The visit was part of the implementation of the €50 million healthcare financing partnership between EIB Global and BoI aimed at boosting local production of medicines, vaccines, diagnostics and other critical healthcare products.

Speaking during the visit, Executive Director, Corporate Finance and Sustainability at BoI, Mr. Rotimi Akinde, representing the Managing Director and Chief Executive Officer of BoI, Dr. Olasupo Olusi, described Fidson as one of Nigeria’s leading pharmaceutical companies.

He said the bank has maintained a strong relationship with Fidson since 2010, providing concessionary financing to support its expansion plans.

“Over the years, we have provided concessionary financing to support its expansion plans, and the company has grown significantly as a result of that partnership,” Akinde stated.

Vice-President of the European Investment Bank, Mr. Ambroise Fayolle, said Fidson was among the first beneficiaries of the EIB-BoI healthcare financing programme.

“A few months after signing the €50 million health financing agreement with the Bank of Industry, I am pleased to visit one of the first beneficiaries of this credit line, Fidson Healthcare, one of the leading pharmaceutical manufacturers in Nigeria,” he said.

Managing Director of Fidson Healthcare Plc, Mr. Biola Adebayo, said BoI’s support has been instrumental in the company’s growth.

According to him, Fidson’s workforce has expanded from about 250 employees in 2010 to approximately 1,800 employees today, while the financing also enabled investments in green manufacturing and environmentally friendly production processes.

By Elizabeth Adegbesan

Xpress Payment Solutions Limited has said its next phase of growth will be driven by emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT), after processing transactions worth trillions of naira over the past decade.

Managing Director and Chief Executive Officer of the company, Mr. Wale Olayisade, disclosed this during a public lecture held in Lagos to mark the firm’s 10th anniversary.

Speaking on the theme, “A Decade of Innovation, A Future of Possibilities,” Olayisade said the company’s journey mirrors the rapid transformation of Nigeria’s payments ecosystem and the growing adoption of digital financial services.

According to him, AI and IoT will make payments more predictive, perso

nalised and seamless.

“AI will enable us to better understand customers’ needs and anticipate the next steps in their financial journeys, reducing friction and enhancing convenience. The future is filled with possibilities,” he said.

Olayisade noted that Xpress Payment has played a key role in expanding financial inclusion by providing access to financial services in underserved communities and supporting Nigeria’s transition to a cashless economy.

“From processing zero transactions at inception, we have grown to handle transactions worth trillions of naira. We have simplified processes such as payment of school fees, hospital bills, utility bills and cable television subscriptions that previously required physical visits and long waiting times,” he said.

He credited the Central Bank of Nigeria (CBN) for creating a stable and secure operating environment through policies that protect consumers and strengthen confidence in the financial system.

Also speaking, Executive Director, Finance, Mrs. Temitope Ajanaku, described the anniversary as a testament to the company’s resilience amid challenges such as the COVID-19 pandemic and foreign exchange volatility.

By Henry Obetta 

Wema Bank has secured  a Euro 50 million (N78.5 billion) financing facility from the European Investment Bank’s development arm, EIB Global, to expand access to credit for small and medium-sized enterprises (SMEs), with a strong focus on women- and youth-owned businesses.

The agreement, signed in Lagos, marks the first transaction between EIB Global and Wema Bank. Under the arrangement, at least 50 per cent of the loans will be directed at youth-owned enterprises, while the balance will support businesses owned, managed, employing, or primarily serving women.

Speaking at the signing ceremony, EIB Vice President, Ambroise Fayolle, said: “This first financial agreement with Wema Bank is an important contribution to strengthen youth employment, gender equality and women’s empowerment in Nigeria.”

He added: “We also support entrepreneurs in adopting best practices in green financing. This is our responsibility as the EU climate bank and a key partner of Global Gateway.”

According to EIB Global, the initiative is backed by the European Union’s Global Gateway programme and aligns with Nigeria’s Financial Inclusion Strategy. The bank will also provide technical assistance to Wema Bank under its Greening the Financial Sector Programme to strengthen climate-related lending and promote sustainable investments.

Commenting on the deal, Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, said: “As a bank whose legacy is rooted in empowerment, this agreement presents remarkable opportunities to scale our impact even further.”

He added: “This facility is strategically focused not only on helping more businesses access critical financial support, but also on addressing gender gaps and creating opportunities for Nigerian youths to become economically active and self-employed.”

Oseni assured that qualified businesses, including participants in entrepreneurship programmes, would benefit from the funding.