NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Opeyemi Owoseni

In a significant boost to Nigeria’s healthcare sector, the African Export-Import Bank (Afreximbank) and the Bank of Industry (BoI) have formalized a $75 million financing term sheet. This funding is specifically earmarked to support local manufacturers operating under the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), a strategic federal government initiative designed to substantially increase domestic production of generic pharmaceuticals, vaccines, biologics, and medical devices.

Photo courtesy psyberartist via Flickr.