CBN finances 82 projects worth over N85bn

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The Central Bank of Nigeria (CBN) says it has financed 82 projects, valued at N85.89 billion through its Healthcare Sector Intervention Facility. The projects comprised 26 pharmaceutical and 56 medical projects across the country.

Also on Tuesday in Abuja, the CBN gave out grants valued at N253.54 million to five researchers to develop vaccines and drugs for communicable diseases, including Coronavirus.

CBN Governor Godwin Emefiele, who spoke at the award ceremony in Abuja, stated that “over 286 proposals from the general public were received and so far, 68 proposals have been evaluated, out of which five proposals with significant merits valued at N253.54 million were recommended by the experts for financing. 

“Some of the recommended proposals, he said, “have the potential to enable the development of the Nigerian vaccine for COVID-19.”

Most of the recipients of the grant are from academia, “a sector that had lacked funding for research, ” Emefiele said.

The Healthcare Sector Research and Development Intervention Scheme (HSRDIS), under which the grant was awarded, is part of the CBN’s policy response to the Coronavirus (COVID-19) pandemic. It is “aimed at prompting intense research and development (R&D) activities towards developing vaccines and drugs against the spread of other communicable and non-communicable diseases.”

Emefiele noted that “a vibrant and innovative health care system is vital for our national security.”

Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, cautioned developed countries to tone down their vaccine nationalism rhetoric.

Suzan O/ Nairametrics

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