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Nigeria to get $400m World Bank financing for COVID vaccine

A crosssection of Nigerians during the 2012 political rally (Occupy, Lagos) at Gani Fawehinmi Park, Ojota. Photo: Temi Kogbe

Nigeria on Friday got approval for a $400 million in World Bank financing to procure and deploy COVID-19 vaccinations, the bank said in a statement.

According to Reuters, the World Bank board of directors signed off on the financing, provided via the International Development Association, which it said would enable Africa’s most populous nation to purchase COVID-19 vaccines for 40 million people, some 18% of its population, and support vaccine deployment to 110 million people.

In a statement, the bank said the money would ensure that the government can vaccinate 51% of its population within two years and “avoid the dreadful consequences of another lockdown that left in its wake an economic toll the country is still grappling with.”

The government last month said that around 20% of workers in Nigeria had lost their jobs as a result of COVID-19.

So far, 5 million vaccine doses have been administered to the 200 million people of Nigeria As of October 1, Nigeria had recorded 205,779 confirmed cases of COVID-19 and 2,721 deaths from the virus.