Biovaccines Nigeria Limited, a joint venture between the Federal Government of Nigeria and May & Baker Nigeria Plc, is set to commence the production of vaccines before the second quarter of 2023.
Nairametrics reported that the Managing Director of May & Baker Nigeria Plc, Patrick Ajah, disclosed this on Wednesday in Lagos, while noting that the company already has a site in Ota where the factory will be built.
Ajah said that the FEC approved the first part of the MoU of Biovaccines on Sept. 14, 2022, with the Federal Ministry of Health for the supply of routine immunisation vaccines.
“This is the first/major step toward vaccine production in Nigeria, as this allows Biovaccines to commence the engagement with the chosen technology transfer partners and subsequently initiate the design and construction of the greenfield project.
“We are optimistic that the ground-breaking ceremony for the vaccine production facility will happen before Q2 of 2023.
“This major event will happen before Q2 2023, it’s going to be a major announcement. We already have a site in Ota where the factory will be built.
He added BVNL is waiting for some of these processes to be activated, adding they are speaking with partners, funding partners, and technology partners too.
“We will also be making significant investments in New machines for our paracetamol plant and the Pharmacentre to ensure we can meet our growing demands both for new and existing products.
“We have made plans for significant growth in our business in 2023 over the current year, having obtained the board approval for the 2023 budget which captures the realities of an election year and the plans to mitigate its possible impact on the business,” he added.