CENTRAL BANK OF NIGERIA OFFERS N100BN FOR ANY INDIGENOUS FIRM TO DEVELOP COVID-19 VACCINE

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has made known the Apex Bank’s readiness to support researchers, science-based institutions, and biotechnology firms with a N100 billion grant in the quest for a homegrown vaccine to fight Corona Virus Disease in Nigeria.

During the commissioning of Thisday Dome for Testing, Treating, Tracing and Isolation Center in Abuja, the Apex Bank Governor in a statement said “the pandemic has had an unprecedented effect on the global economy, impacting all nations big and small.

According to him, so far, the Coalition Against COVID-19, (CACOVID) has raised over N27 billion to fund this initiative.

He said the donations received so far are being used to build well-equipped isolation centres across the 36 states of the federation.

“ So far, CACOVID has equipped and handed over isolation centres in Rivers, Enugu, Kwara, Ondo, and Borno.
The Testing, Treating, Tracing and Isolation Centre being launched, represents a part of the support being provided by the CACOVID alliance.

”It is expected that other isolation centres will be handed over in the other states of the country including FCT, by May 23, 2020. As part of measures put in place to cushion the effect of the COVID-19, CACOVID has provided food items to poor and Indigents Nigerians”, he added.

He stated that the spread of the pandemic has exposed Nigeria’s economy to triple shock.

”Permit me to say that we are currently faced with public health and economy crises of unprecedented proportion driven primarily, by a 55% drop in crude oil between January and May 2020. In Nigeria, our economy is exposed to triple. Shock in supply and demand and shock revenue.

”This unparalleled shock requires that the federal and the state government along with the private sector work together to address these challenges in order to preserve life and restore economic activities and reset the economy of our dear county.

”I which to acknowledge, however, that our ability to restore the growth of our economy is dependent on how we address our public health crises occasioned by the COVID 19.

”It is in the realization of this fact that the CBN recently launched a N100 billion Nara health care intervention fund. Practitioners in the pharmaceutical and health care sector will be able to access finance at a single-digit interest rate through these funds.

”Needless to say that if we wait for other countries to develop a vaccine, we will be the last to receive curative remedy for our teeming population.

”The CBN, today, challenges Nigerian scientist to go back into their laboratories and develop Nigeria homegrown vaccine. Once validated by the authorities, the CBN will step in and do the needful for the sake of 200m Nigerians now confronted by COVID 19”, he said.

Also, speaking at the event, Mr. Boss Mustapha, secretary to the Government of the Federation said the facility being commissioned is 300-bed space which will be increased to 500-bed space and 54 gene testing facilities.

He also said from January 30th till date, there has been 4.2 million confirmed cases, 287, 000 fatalities and 1.5 million recovery globally.

According to him, in Africa, 62,000 confirmed cases have been recorded with 2,200 fatalities across 53 countries.

Dr. Osagie Ehanire, minister of health, who also spoke at the event said it takes all hands on deck to tackle the worst single public health emergency of our generation.

”The nature of this virus makes the identification and isolation of infected persons and their contacts a public health imperative and the importance cannot be over-emphasized” he said.