The Central Bank of Nigeria has awarded over N234 million in research grants to five beneficiaries of its Healthcare Sector Research and Development Intervention Scheme.

One of the grants’ recipients was a professor of Epidemiology, Olufemi Babalola, who got a grant of N50 million. A professor of Microbiology, Ikechukwu Okoli, from Nnamdi Azikiwe University, also received N50 million.

Others are Garba Bubah from Jigawa State Polytechnic (N42.1 million), John Ogedemgbe from the University of Abuja, and Otega Ejofodomi, from the Federal University of Petroleum Resources, received N50 million and N42.4 million, respectively.

Boss Mustapha, Secretary to the Government of the Federation, in a goodwill message at the event, commended CBN for providing support to the health sector, especially with the outbreak of the COVID-19 pandemic.

Mustapha, the chairman of the Presidential Task Force on COVID-19, said the HSRDIS was part of the bank’s policy response to the COVID-19 pandemic.

He explained, “COVID-19 came with adverse and negative effects, but it has also provided an opportunity for us to transform our healthcare delivery system.

“This HSRDIS by the CBN will translate to establishing formidable institutions so that when we are confronted with another pandemic, future generations will benefit from those institutions.

“I appreciate the CBN governor and his management team for this initiative. It could not have come at a better time than now.”

The CBN Governor, Godwin Emefiele, noted that the pandemic exposed Nigeria’s healthcare delivery system’s fragilities.

Mr. Emefiele said, “CBN, working with the Federal Government, has decided that we must begin to look inwards and provide for ourselves.

“That was the main reason why CBN set up the Body of Experts, chaired by Prof. Mojisola Adeyeye, Director General of National Agency for Food and Drug Administration and Control (NAFDAC), to steer the HSRDIS.

“Emphasis on research and development in developed countries has helped in the development of COVID-19 vaccines.”

According to him, the CBN received over 200 proposals, graded 68, and the best five picked.

He said that the scheme would provide grants to enable research and development activities into vaccines, drugs, and herbal medicines for COVID-19 and other infectious diseases.