CBN Awards N234m Grants to Five Researchers for COVID-19 Studies

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The Central Bank of Nigeria on Tuesday awarded more than N234million in research grants to five beneficiaries of its Healthcare Sector Research and Development Intervention Scheme.

The beneficiaries are to conduct studies on the COVID-19 pandemic and other infectious diseases.

The recipients of the grants are Professor of Epidemiology, Olufemi Babalola, who got a grant of N50million, Professor of Microbiology, Ikechukwu Okoli, from Nnamdi Azikiwe University, who also got N50 million grant.

Others are, Dr. Garba Bubah from Jigawa State Polytechnic, who received N42.1million grant, while Dr. John Ogedemgbe from the University of Abuja, and Dr. Otega Ejofodomi, an Electrical Engineering lecturer from the Federal University of Petroleum Resources, received N50million and N42.4 million, respectively.

 

Mr. 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, who is also the Chairman of the Presidential Task Force on COVID-19, said the HSRDIS was part of the apex bank‘s policy response to the COVID-19 pandemic.

He said that the idea was to help strengthen Nigeria‘s public healthcare system with innovative financing into new and improved drugs, vaccines, and diagnostics to fight infectious diseases.

“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 SGF said.

Mr. Godwin Emefiele, the CBN Governor, said that the COVID-19 pandemic exposed the fragilities of Nigeria‘s healthcare delivery system.

Emefiele said that a healthy and safe workplace was necessary for continuous economic growth as well as stability of the financial system.

He described healthcare as the bedrock of the development of any nation, which deserved adequate funding for its research and development.

“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, to steer the HSRDIS.

“Emphasis on research and development in developed countries has helped in the development of COVID-19 vaccines,’’ he said.

Emefiele said that over 200 proposals were received out of which 68 had been graded 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.

He called on other corporate institutions to collaborate with the CBN to fund research and development for the good of all Nigerians while urging the recipients to make judicious use of the grants.

Dr. Olorunnimbe Mamora, the Minister of State for Health, said that research and development were integral in finding solutions to health challenges.

He said that the CBN intervention came at the right time to provide the needed funding to boost healthcare research and development in Nigeria.

“New vaccines, drugs, and other diagnostics are needed to create a healthy world.

“Research and development have a multiplier effect. It not only saves and improves lives but also creates cost-saving economic growth and enhances global security,’’ Mamora said.

Chairperson of the Body of Academic Experts that vetted the research proposals, Prof. Mojisola Adeyeye, said that the selection process was open and transparent, adding that the five recipients were the best out of 68 proposals that were considered.

One of the recipients, Ejofodomi, responding on behalf of the recipients, said that they would make judicious use of the grants and work hard to achieve the desired results. 

(NAN)

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