Follow Us on Google
From Isaac Anumihe, Abuja
Minister of Housing and Urban Development, Engineer Muttaqha Rabe Darma, has formally handed over two original title documents of the Federal Government property, No 445 Herbert Macaulay Way, Yaba and No 1, University Road, Yaba Lagos to Biovaccines Nigeria Limited (BVNL), for domestic vaccine manufacturing.
The documents were presented to Biovaccine Nigeria Limited (BVNL) through the Ministry of Finance Incorporated (MOFI), the trustee of the Federal Government interest.
Speaking at the event, the minister said the transfer fulfills the Federal Government’s equity commitment under the Joint Venture Agreement with May & Baker Nigeria Plc.
“Recall that the Federal Government entered into a joint venture partnership with May & Baker to revive local production of vaccines. The partnership created Biovaccines Nigeria Limited as a Special Purpose Vehicle for mass production of vaccines for Nigeria and other West African countries,” he stated.
Under the agreement, the Federal Government holds 49 per cent equity in BVNL, while May & Baker holds 51 per cent. The government’s contribution consists of two property – No 445 Herbert Macaulay Way, Yaba and No 1, University Road, Yaba Lagos.
Darma noted that localising vaccine production goes beyond economics.
“The lessons of recent global health crises remain crystal clear. A nation that relies entirely on foreign supply chains for its critical vaccines remains fundamentally vulnerable. Localising vaccine production is not merely an economic ambition; it is a critical matter of national security,” he said.
In a statement, Director, Press and Public Relations of the ministry, Badamasi Haiba, said that with the transfer completed, the minister urged the Board and Management of BVNL, led by Professor Oyewale Tomori, to translate the milestone into immediate operational progress. In his remarks, the Executive Officer of Biovaccines Nigeria Limited (BVNL), Professor Oyewale Tomori, who was full of emotions, commended the federal government for the evidence of its equity. He then re-affirmed the commitment of his organisation to working towards saving the lives of over 7-8 million children from dying yearly.
