COVID-19: NSIA raising $200m funding to produce vaccine, says Buhari

President Muhammadu Buhari says the Nigerian Sovereign Investment Authority (NSIA) is raising a $200 million fund to aid the production of COVID-19 vaccine in the country.

He said this during a broadcast Friday to mark the country’s Independence Day.

Buhari said, “As we push to source vaccines for our immediate needs, we shall invest more to support our pharmaceutical and research agencies to come up with ideas for locally developed vaccines. Should another pandemic arise in the future, Our question is simple; will Nigeria be ready?

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“Accordingly, I have directed the Ministries of Finance, Budget and National Planning, Health, Education and Science and Technology to work with Nigerian and International pharmaceutical companies and research organisations to enhance Nigeria’s domestic pharmaceutical capacity.

“Already, the Nigerian Sovereign Investment Authority is raising a $200 million fund for this initiative that will complement the Central Bank of Nigeria’s ongoing N85 billion Healthcare Sector Research and Development Intervention Scheme to support local researchers in the development of vaccines and drugs to combat communicable and non-communicable diseases, including COVID-19.”

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