Nigeria’s Federal Government will receive the sum of $75m in the next five years from the Bill and Melinda Gates Foundation for routine childhood immunisation.
This is just as the government reiterated its commitment to childhood immunisation through innovative financing agreement with the Bill and Melinda Gates Foundation.
A statement from the Ministry of Finance on Tuesday stated that under the agreement, Nigeria would receive incentive financing of up to $ 75 m over a period of five years.
The statement indicated that the fund might be directly invested in Nigeria’s Basic Health Care Provision Fund.
It said the deal would direct new funds to Nigeria’s broader health sector, even as more domestic resources would be dedicated to critical childhood vaccines.
The statement also quoted the Minister of Finance, Zainab Ahmed, as saying that the fund would improve the health care system.
She said, “There is no question that immunisation is an all -around ‘best buy’ for Nigeria and extremely high value – for -money, but we still have limited resources.”
“This innovative financing will allow us to limit trade – offs in the health sector by ensuring that every additional fund released for vaccines unlocks additional resources for broader primary health care improvements.”
Under the agreement, the statement added, the Bill Gates Foundation will provide up to $15m per annum for five years to the Federal Government of Nigeria for financing primary health care.
It also stated that payments would be made, based on the Federal Government ’ s condition for routine immunisation programmes.
Bill & Melinda Gates Foundation
Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates . Based in Seattle, Washington, it was launched in 2000 and is said to be the largest private foundation in the United States, holding $50.7 billion in assets.
The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and, in the U.S., to expand educational opportunities and access to information technology.
The foundation is controlled by its three trustees: Bill and Melinda Gates, and Warren Buffett.