Former Anambra governor, Peter Obi, has disapproved of ongoing plans by the Muhammadu Buhari regime to purchase coronavirus vaccines from developers at the cost of N400 billion.

Mr. Obi, an erstwhile vice presidential candidate of the opposition PDP, said Tuesday that Nigeria needed only about a fraction of the proposed sum to successfully inoculate 70 percent of its population as recommended by the World Health Organisation.

Health minister Osagie Ehanire had told leaders of the federal parliament last December that N400 billion would be needed to vaccinate millions of Nigerians at $8 per individual.

In emphasising the need for transparency in the procurement of COVID-19 jabs, Mr. Obi explained that: “Today, vaccine in India costs between $2 25 cents to $3. That is an average of $2.75 and if you say you are going to use N400 billion, that is about $1bn.”

“If you divide $1bn by $2.75cents each, that is about 350 million doses which is far in excess of what we need,” the former Anambra chief executive pointed out while speaking on Arise Television Tuesday.

Mr. Obi posited that Nigeria needed 140 million doses of the COVID-19 jab to vaccinate 70 percent of its population — a figure he said could reduce to 120 million doses, in view of donations from global partners.

“But even if we’re buying 140 million (doses), we just need about three hundred and eighty-something million dollars which is about N150 billion to buy it,” the businessmen-turned-politician asserted.

Mr. Obi volunteered to negotiate a discount for the vaccine on behalf of the Nigerian government if beckoned by authorities.

“If they have a N400bn budget to buy the vaccine, my suggestion (is) they don’t need to award contracts. Let them just call Serum institute in India and plead with them. I am sure they will even give us discount. If they want, I can go for the negotiation. It won’t cost more than $2 each,” he opined.

Nigeria has recorded a total of 131,918 cases of the coronavirus, with the fatality toll rising to 1,607 as of Monday, February 1.