The Central Bank of Nigeria has said that beneficiaries of its Healthcare Research and Development Intervention Scheme, which targets manufacturing and development activities, will have access to N500m.
In the guidelines for its Coronavirus Disease vaccine and diagnostic research financing, the apex bank also fixed the cap for research activities at N50m.
According to the information obtained from the apex bank, disbursement to beneficiaries will be in tranches based on the degree of conformity to the set standards for each stage.
While the duration for manufacturing and development will not be more than one year, that of executing the research must not exceed two years from the release of funds, CBN added.
It said, “Candidate vaccines undergoing pre-clinical testing or trials shall not be eligible for consideration under this scheme.
“However, candidate vaccines undergoing clinical testing or trials shall be eligible for consideration under the scheme if considered to have high potential to cross the clinical trial stage and prospects of scale by the body of experts.”
The CBN intends to offer special consideration to herbal medicines, candidate drugs as well as vaccines of huge scientific merit against evolving infections and capable of contributing to the Nigerian vaccine.
“In applying for the grant, the applicant shall be required to have conducted pre-clinical testing of the candidate drugs, herbal medicines, and vaccines, and obtained certification from relevant health authorities for further research and development,” the bank added.
