Nigeria transfers land to boost vaccine production
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The federal government of Nigeria transferred ownership of two properties in Lagos to Biovaccines Nigeria Limited (BVNL), fulfilling its financial commitment to a joint venture aimed at increasing local vaccine manufacturing.
Muttaqha Darma, the Minister of Housing and Urban Development, presented the property titles to BVNL through the Ministry of Finance Incorporated, which manages the government’s investment. The properties, located on Herbert Macaulay Way and University Road in Yaba, Lagos, represent the government’s 49 percent equity stake in BVNL.
May & Baker Nigeria Plc owns the remaining 51 percent of BVNL, which was created as a special purpose vehicle to produce vaccines for Nigeria and other West African countries. Darma explained that increasing domestic vaccine production is vital for national security, reducing reliance on foreign suppliers and preventing vulnerability during global health crises. The transfer of ownership will allow BVNL to secure investment and partnerships needed to build its operations.
Professor Oyewale Tomori, leading BVNL, expressed gratitude for the government’s contribution and pledged to work towards reducing the approximately 7.8 million deaths of children annually.
