By Adadareporters
The African Export Import Bank and
Innovative Biotech Limited, located in Keffi, Nasarawa State, have signed an agreement for local production of a range of vaccines in Nigeria.
The Project Preparation Facility Agreement was signed by Mr Haytham El Maayergi, executive vice president, Global Trade Bank, Afreximbank, and Dr Simon Agwale, founder and chief executive, Innovative Biotech Limited (IBL).
The development would propel IBL to the forefront of healthcare innovations. It was learnt that the deal begins with the building of a state-of-the-arts vaccine manufacturing facility in Keffi, with the deal operating under Current Good Manufacturing Practice regulations.
Our correspondent reports that the facility is designed to produce a range of vaccines, from Typhoid and Rotavirus to Pentavalent/Hexavalent formulations, with future aspirations extending to the production of critical vaccines like Coronavirus-19, Human Immuno-deficiency Virus, Ebola, Human Papilloma Virus, and Lassa, with an anticipated annual production capacity of 225 million doses.
Adadareporters reports that Afreximbank would play a pivotal role in providing the critical early-stage preparatory capital to de-risk the project and propel it swiftly towards bankability.
Dr Agwale told newsmen on Wednesday that, “The intervention aligns seamlessly with the African Union’s visionary goal to ensure that at least 60% of routine vaccines for Africa are produced on the continent by 2040. This is the only initiative in Africa that is looking at the entire value chain: research and development, drug substance manufacturing and fill and finish. Africa will never be in a position where we’ll have to depend on other countries for our vaccines. This is a great day for Nigeria and Africa.”
