Saturday, November 27, 2021

COVID-19: We’ve Approached World Bank For $30m Loan To Build Vaccine Plant In Nigeria – Buhari

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President Muhammadu Buhari says his government is in talks with the World Bank to obtain $30 million to build a vaccine plant in Nigeria. Buhari, represented by Vice-President Yemi Osinbajo, made this known in Jos on Saturday during the graduation of Senior Executive Course 43 participants of the National Institute for Policy and Strategic Studies. Buhari Borrows $30m to build COVID-19 Vaccine plant

The President said he hoped that the vaccine plant to be built in collaboration with May & Baker Nigeria Plc would commence next year.
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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 (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.

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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.” buhari

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Photo Credit: Getty

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