FG Transfers Properties to Boost Local Vaccine Production

On [specific date not provided], Engr Muttaqha Rabe Darma, PhD, the Minister of Housing and Urban Development, handed over the original title documents of two federal properties in Lagos to Biovaccines Nigeria Limited (BVNL). This transfer is a significant step towards domestic vaccine manufacturing and fulfills the Federal Government’s equity commitment under a Joint Venture Agreement with May & Baker Nigeria Plc.

The properties, located at No. 445 Herbert Macaulay Way and No. 1 University Road in Yaba, Lagos, are part of the Federal Government's 49 percent equity stake in BVNL, while May & Baker holds 51 percent. Engr. Darma emphasized that localizing vaccine production is crucial for national security.

He urged BVNL's Board and Management, led by Professor Oyewale Tomori, to act swiftly to meet public expectations. Dr. Shuaib Belgore, Permanent Secretary of the Ministry, described the event as a milestone in Nigeria's pursuit of health sovereignty and local vaccine production, highlighting the importance of securing legal ownership for attracting investments and partnerships.