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The Federal Executive Council on Wednesday approved a joint venture agreement between the federal government and May & Baker plc to produce vaccines in the country from 2017-2021.
The equity participation will be 51 per cent from May &Baker, and 49 percent from the federal government with an initial take off capital of N100 million and equity contributions of N1.3 billion and N1.2 billion respectively.
Minister of health, Isaac Adewole who briefed newsmen after the weekly Federal Executive Council (FEC) meeting said the federal government is also contributing the Institute of Vaccines Research where the new company will take off.
The board of the company will comprise seven people, four from May and Baker and three from the federal government.
“FEC approved joint venture agreement between the federal government and Baker Plc to produce vaccines from 2017-2021.
“Between 1940-1991, Nigeria was not only producing vaccines such has smallpox, yellow fever, and anti-rabbis vaccines but we also exported to Cameroon, Central African Republic and a few other countries.
“In 1991 the Vaccine Production Laboratory stopped production ostensibly because government wanted to reactivate and upgrade the facility which did not take place till today. What council did today was to was put live into this joint venture agreement that proposes to establish a company called bio-vaccines LTD which will be jointly owned by federal government of Nigeria and May and Becker Plc” the minister said.
Adewole who briefed alongside the ministers of Information and Culture, Lai Mohammed, Science and Technology, Ogbonaya Onu and Niger Delta, Usani Usani, said the partnership will take off this year.
He explained that the FEC will allow the Attorney General of the Federation to perfect the agreement and “hopefully in the next two weeks we should sign this agreement and once the agreement is signed we are ready to fly”.
According to him, the agreement was to further secure the lives of Nigerians since the production of vaccines is now considered as a security issue.
“We have considered vaccines as a security issue, it is not only health but we need to consider the security of all Nigerians particularly our children. So, with this agreement, we will be able to
produce those command vaccines and from 2021 and beyond every other vaccine that is necessary will also be out on board for administration to Nigerians. We are quite happy that today it has taken place and we believe that Nigeria has started a journey to vaccines security” he said.
The minister said he also briefed the council on the meningitis outbreak adding that the country was almost at the end of it. “What we are now doing is to now prepare to ensure that this does not repeat itself next year” he added.
Council also received briefing on the unfortunate incident where a body was flown into the country from the Democratic Republic of Congo, by Kenya Airways.
According to the minister, the body was brought in without the necessary approval. “The standard procedure is that for you to fly in a body into Nigeria you need a waiver, a sort of approval issued by a federal ministry of health” and this was not sought.
He assured Nigerians that the body tested negative to Ebola and any of the hemorrhagic fevers adding “We know the cause of death but for confidential reasons we do not have to disclose it. But it is nothing really to worry about”.
ELIZABETH ARCHIBONG
