The Nigerian government led by President Muhammadu Buhari has approached the World Bank for the purpose of a $30 million loan for a vaccine plant in Nigeria.
President Buhari has revealed that his government are in talks with the World Bank to obtain funds which will be utilized for building a vaccine plant in Nigeria.
Buhari is optimistic that pharmaceutical giants May & Baker Nigeria Plc will collude with the government in order to develop an efficient vaccine plant in coming years.
President Muhammadu Buhari who was represented by Vice President Osinbajo, at the graduation ceremony of Senior Executive Course 43 participants of the National Institute for Policy and Strategic Studies.
The President 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 – Biovaccines Nigeria Ltd, (with 49 per cent of the company owned by the Nigerian government and the balance held by May & Baker Nigeria Plc), plans to begin construction of the plant in the first quarter of next year.
“The plant will initially ‘fill and finish,’ which means importing the raw materials for the vaccines and then packaging them for distribution. Full manufacturing is expected to follow.”
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