The World Bank has approved a $400 million dollar credit to the Muhammadu Buhari regime for additional financing for Nigeria’s COVID-19 vaccine acquisition.
The global bank announced on Friday in Washington that the credit facility was from its International Development Association (IDA).
The credit would help purchase vaccines for 18 per cent, or about 40 million of Nigeria’s population and support effective vaccine deployment to 50 per cent, about 110 million Nigerians.
The funding would also strengthen the country’s relevant health systems that are necessary for a successful deployment and to prepare for future health emergencies.
Speaking of the fund, the World Bank Country Director for Nigeria, Shubham Chaudhuri, said, “This will ensure that the government meets its plans to vaccinate 51 per cent of its population in two years.”
Mr Chaudhuri said this was to avoid the dreadful consequences of another lockdown that left in its wake an economic toll the country was still grappling with.
Mr Ayodeji Ajiboye, the World Bank Task Team Leader for the project, said “It will also strengthen the country’s health system interventions, such as enhancing health-emergency response capacity of health workers, cold chain equipment, disease surveillance, data management and use, and laboratory testing for the long-term.”