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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 to 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
contributing the Institute of Vaccines Research where the new
company will take off as its equity.
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.
“The federal government is using existing facility at the Federal
Vaccine Production Production Lab, Lagos, as our equity. And that has
been costed by Federal Ministry of Works and Housing, is about N1.27
billion and May and Backer will put in about N1.3 billion in keeping
with the 51, 49 per cent equity participation.
“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”.
