Emmanuel Addeh in Abuja
The federal government has formally transferred the title documents of two properties in Lagos to Biovaccines Nigeria Limited (BVNL), fulfilling its equity contribution to the joint venture established to revive local vaccine manufacturing.
The Minister of Housing and Urban Development, Muttaqha Darma, handed over the original title documents of the properties to BVNL through the Ministry of Finance Incorporated (MOFI), which holds the federal government’s interest in the company.
The properties are located at No. 445 Herbert Macaulay Way, Yaba, and No. 1 University Road, Yaba, Lagos, a statement in Abuja by the ministry said.
Speaking at the handover ceremony, Darma said the transfer represented the fulfilment of the federal 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. The partnership created Biovaccines Nigeria Limited as a Special Purpose Vehicle for mass production of vaccines for Nigeria and other West African countries,” he said.
Under the agreement, the federal government holds 49 per cent equity in BVNL, while May & Baker owns 51 per cent. The government’s contribution comprises the two Lagos properties.
Darma said the push for local vaccine production was not simply an economic initiative, arguing that dependence on foreign supply chains for critical vaccines posed a national security risk.
“The lessons of recent global health crises remain crystal clear. A nation that relies entirely on foreign supply chains for its critical vaccines remains fundamentally vulnerable. Localizing vaccine production is not merely an economic ambition; it is a critical matter of national security,” he said.
With the transfer of the properties completed, the minister charged the board and management of BVNL, led by Prof. Oyewale Tomori, to translate the development into tangible progress in vaccine manufacturing. “The expectations of the Nigerian people are high, and time is of the essence,” he added.
Earlier, the Permanent Secretary of the Ministry, Dr Shuaib Belgore, described the transfer as an important administrative and operational milestone in the country’s quest for health sovereignty and domestic vaccine production.
Belgore said the partnership between the federal government and May & Baker was established as a public-private partnership to revive vaccine manufacturing in Nigeria.
He stressed that securing and transferring legal ownership of the properties was crucial to enabling BVNL to attract the investment and partnerships required to develop its operations.
According to him, the legal ownership would help the company attract capital investment, international partnerships, technology transfer and infrastructure financing.
He also acknowledged the contributions of the Federal Ministry of Health and Social Welfare, Federal Ministry of Justice and the Office of the Chief of Staff to the President towards completing the title documentation process.
In his remarks, Tomori, who described the development as an emotional moment, commended the federal government for finally providing tangible evidence of its equity contribution to the venture.
He said the development represented a “double celebration” for him and reaffirmed BVNL’s commitment to ensuring that the vaccine manufacturing initiative delivers on its health objectives.
Tomori said the organisation would work towards contributing to efforts to save the lives of more than 7.8 million children who, according to him, die annually.