FG Transfers Properties to BVNL for Vaccine Production

On 12 September 2026, Engineer Muttaqha Rabe Darma, the Minister of Housing and Urban Development, handed over two original title documents of Federal Government properties located at No 445 Herbert Macaulay Way and No 1 University Road, Yaba, Lagos, to Biovaccines Nigeria Limited (BVNL). This transfer is part of the Federal Government's equity commitment under a Joint Venture Agreement with May & Baker Nigeria Plc, which established BVNL as a Special Purpose Vehicle for mass vaccine production in Nigeria and other West African countries.

The Federal Government holds a 49 percent equity stake in BVNL, while May & Baker holds 51 percent. Darma emphasized that localizing vaccine production is crucial for national security, stating that reliance on foreign supply chains for critical vaccines poses vulnerabilities.

Following the transfer, Professor Oyewale Tomori, the Executive Officer of BVNL, expressed gratitude to the government and reaffirmed the organization's commitment to saving millions of children's lives annually.