Abuja, Nigeria — The Presidential Initiative on Unlocking Healthcare Value Chain (PVAC) has secured billions of dollars and euros in guarantor financing to support investors seeking to establish bankable industries in Nigeria’s healthcare manufacturing sub-sector.
Speaking to journalists in Abuja on Friday, PVAC National Coordinator, Dr. Abdu Mukhtar said the initiative, under the leadership of the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate and at the direction of President Bola Ahmed Tinubu, has arranged guarantor financing from the European Investment Bank (EIB) worth €1 billion for education and healthcare manufacturing, and another US$1 billion from AFREXIMBANK.
Dr. Mukhtar noted that PVAC currently has about 85 different projects in its pipeline, disclosing that several key projects expected to materialize this year, as a result of the President’s intervention, include the commissioning of a test kits manufacturing company in Port Harcourt, the localization of family planning products in Anambra State—described as a “game changer”—and federal government support for a major pharmaceutical company in Kano State, which is set to produce millions of tablets for Nigeria and West Africa.
