Nigeria transfers Lagos properties to boost local vaccine manufacturing

The Nigerian government has transferred title documents for two properties in Lagos to Biovaccines Nigeria Limited (BVNL) to fulfill its equity commitment in a joint venture aimed at local vaccine production.

The properties, located at No. 445 Herbert Macaulay Way and No. 1 University Road in Yaba, Lagos, were handed over through the Ministry of Finance Incorporated (MOFI). This move is part of a partnership between the Federal Government, which holds a 49 percent stake, and May & Baker Nigeria Plc, which holds 51 percent.

The initiative seeks to establish domestic manufacturing capacity for vaccines to serve Nigeria and other West African nations. Officials stated that the project is a matter of national security intended to reduce the country's vulnerability to international supply chain disruptions and foreign dependence for critical medical supplies.