May & Baker, Biovaccines Set to Open Vaccine Production Facility

Ugo Aliogo and Oluchi Chibuzor

Barring unforeseen circumstances, May & Baker Nigeria has announced that the groundbreaking ceremony for its vaccine production factory would take place in the second quarter of 2023.

Managing Director and Chief Executive Officer, May & Baker, Mr. Patrick Ajah, disclosed this yesterday, during a media parley with journalists in Lagos.

According to him, Nigeria cannot continue to depend on western countries for its vaccine, “as the coronavirus pandemic has taught us that.”

He said, “Let me also use this opportunity to announce a milestone achievement in our joint venture with the federal government of Nigeria Biovarcines. On 14th September 2022, the Federal Executive Council (FEC) approved the first part of the MoU of Biovarcines with the Federal Ministry of Health for supply of routine immunisation vaccines.

“This is the first/major step towards vaccine production in Nigeria, as this allows Biovaccines to commence the engagement with the chosen technology transfer partners and subsequently initiate the design and construction of the greenfield project.

“We are optimistic that the groundbreaking ceremony for the vaccine production facility will happen before Q2 of 2023.”

He added: “As we speak, we have already gotten the first order and that gives us some confidence that it is going to happen.

“We are saying we cannot go on importing; we know what happens with the issues we have as countries will take care of themselves first before they think of you.

“That is why we have signed the contract with companies that are going to support us. Where we are now, there should be no hindrance because May &Baker is paying to the companies that are producing the vaccines.

“We just needed an agreement with government that they are going to buy it once we produce it and we are hopeful that is going to happen this time around.”

However, commenting on the company’s profit after tax (PBT), he said it was severely impacted by the significant increase in cost of goods and other operating costs.