The Nigerian Government has transferred title documents for two properties in Lagos to Biovaccines Nigeria Limited, fulfilling its equity commitment and supporting efforts to establish local vaccine manufacturing.
The Ministry of Finance Incorporated (MOFI), trustee of the Federal Government’s interest, presented the documents at an event in Lagos.
The properties are located at No. 445 Herbert Macaulay Way, Yaba, and No. 1 University Road, Yaba, Lagos.
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Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, said the transfer fulfils the government’s equity commitment under its Joint Venture Agreement with May & Baker Nigeria Plc.
“You will recall that the Federal Government entered into a joint venture partnership with May & Baker to revive local production of vaccines,” Darma said.
He explained that the partnership established Biovaccines Nigeria Limited (BVNL) as a special-purpose vehicle for mass vaccine production in Nigeria and other West African countries.
Under the agreement, the Federal Government holds a 49 per cent equity stake in BVNL, while May & Baker holds 51 per cent.
The government’s contribution to the venture comprises the two Lagos properties transferred to the company.
Darma said the transfer goes beyond fulfilling a financial or administrative obligation.
“The lessons of recent global health crises remain crystal clear,” he said. “A nation that relies entirely on foreign supply chains for its critical vaccines remains fundamentally vulnerable.”
He described local vaccine production as a matter of national security, stressing the need to reduce Nigeria’s vulnerability to disruptions in international supply chains.
With the title transfer completed, Darma urged the BVNL board and management, led by Professor Oyewale Tomori, to convert the development into immediate operational progress.
“The expectations of the Nigerian people are high, and time is of the essence,” he said.
Permanent Secretary of the Ministry of Housing and Urban Development, Dr Shuaib Belgore, described the transfer as an important administrative and operational milestone.
He said the Federal Government-May & Baker partnership public-private partnership to revive vaccine manufacturing in Nigeria.
Belgore said securing and transferring legal ownership of the properties would help BVNL attract capital investment and international partnerships.
He also linked the titles to opportunities for technology transfer and infrastructure financing needed to support vaccine manufacturing.
Belgore acknowledged the roles of the Federal Ministry of Health and Social Welfare, Federal Ministry of Justice and the Office of the Chief of Staff to the President in completing the title documentation.
The Executive Officer of Biovaccines Nigeria Limited, Professor Oyewale Tomori, welcomed the transfer as a significant demonstration of the Federal Government’s equity contribution.
Tomori expressed renewed commitment to advancing the company’s vaccine manufacturing objectives.
He said BVNL would work towards saving the lives of more than 7.8 million children from dying each year.
In addition, the establishment and development of BVNL is expected to reduce Nigeria’s dependence on imported vaccines while strengthening national health security.
It could also support Nigeria’s ambition to develop domestic vaccine manufacturing capacity and contribute to vaccine supply across West Africa.
