The Central Bank of Nigeria (CBN) has reiterated its commitment to funding research and development of candidate drugs, herbal medicines and vaccines validated by relevant health authorities for the control, prevention and treatment of infectious diseases.
According to the CBN’s released Healthcare Research and Development Grant Guidelines, the scheme shall be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF). The detailed guidelines said manufacturing of drugs, herbal medicines and vaccines validated by relevant health authorities for the control, prevention and treatment of infectious diseases are listed as ‘Activities eligible for consideration under the Scheme.’
Also included are red biotechnological Research and Development in new health technology for the control, prevention and treatment of infectious diseases; research partnership between academia and industry into the development drugs and vaccines for the control, prevention and treatment of infectious diseases.
Research and development into validated phytomedicines for the control, prevention and treatment of infectious diseases also made the list of eligible research and development activities.
Disbursement under the Scheme shall be made to beneficiaries in tranches subject to approved milestones achieved. The CBN, as part of its policy response to the COVID-19 pandemic, introduces the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to help strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.
Specifically, the HSRDIS is designed to trigger intense national R&D activities to develop a Nigerian vaccine, drugs and herbal medicines against the spread of COVID-19 and any other communicable or non-communicable diseases through the provision of grants to biotechnological and pharmaceutical companies, institutions, researchers, and research institutes for the research and development of drugs, herbal medicines and vaccines for the control, prevention and treatment of infectious diseases.
The Scheme is intended to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs of the drugs, herbal medicines and vaccines in Nigeria.
