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Nigeria, World bank will raise $30m for vaccine plant- Osinbajo
Modupe Shodeinde
Vice President, Yemi Osinbajo has stated that Nigeria and the World Bank are collaborating to raise $30 million to finance a vaccine plant.
Osinbajo stated that the global trend in health had made it critical for Nigeria to establish its own vaccine production facilities.
He spoke in Abuja, yesterday, at the International Conference on Health Access and Socio-Economic Development Beyond Covid-19: The First Multi-sectoral Approach to Solution Finding.
The conference was orgainsed by the National Institute for Pharmaceutical Research and Development (NIPRD).
He said, “Nigeria is in talks with the World Bank’s private lending arm and other lenders to raise about $30 million to help finance a vaccine plant.
“Bio-vaccine Nigeria Limited is chaired by Prof. Oyewale Tomori; 49 per cent of the company is owned by the Nigerian government with the balance held by May and Baker Nigeria PLC and they have plans to begin construction of a plant.
“I believe in the first quarter of next year; the plant, which is supposed to be located in Ota, Ogun State, will initially, we are told, fill and finish, which I’m also told, means importing the raw materials for the vaccines and then packaging them for distribution.
“Some South African companies are already involved in doing exactly that; I believe Aspen Pharmacare and Belvac Institute operate similar facilities.”
“Full manufacturing, we are told, is expected to follow in the coming months or years; I am not entirely certain, when.
“So, it is evident that the way forward is more funding for healthcare and research for innovators to develop solutions in pharmaceuticals and medical consumables.’’
The vice president said by the discussion he had with NIPRD Director-General, Dr. Obi Adigwe, he was inspired by the potential and the kind of support that the pharmaceutical industry and research agencies would require.
