The Central Bank of Nigeria, as part of its policy response to the COVID-19 pandemic, has introduced the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to help strengthen the public healthcare system with innovative financing of research and development in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.
Specifically, the HSRDIS is designed to trigger intense national R&D activities to develop a Nigerian vaccine, drugs and herbal medicines against the spread of COVID-19 and any other communicable or non-communicable diseases through the provision of grants to target beneficiaries.
These beneficiaries, according to the apex bank, include: biotechnological and pharmaceutical companies, institutions, researchers, and research institutes for the research and development of drugs, herbal medicines and vaccines for the control, prevention and treatment of infectious diseases.
In a memo titled, “Healthcare Research and Development Grant Guidelines”, the CBN said, “The Scheme is intended to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs of the drugs, herbal medicines and vaccines in Nigeria.”
The broad objectives of the scheme include: providing grants for Research and Development in new or revalidation of drug molecule, phytomedicines and vaccines for the control, prevention and treatment of infectious diseases in Nigeria; boosting domestic manufacturing of validated drugs (Active Pharmaceutical Ingredients or APIs), herbal medicines and vaccines for the control, prevention and treatment of infectious diseases in Nigeria; among others.
According to the CBN, in applying for the grant, the applicant shall be required to have conducted pre-clinical testing of the candidate drugs, herbal medicines and vaccines, and obtained certification from relevant health authorities for further research and development.
It said, “Special consideration shall be given to candidate drugs, herbal medicines and vaccines with high scientific merit against emerging infections and contribute to the development of the Nigerian vaccine.
For this purpose, a BoE (Body of Experts) shall be constituted from the academia and industry to review validated research proposal submitted and recommend for financing, as appropriate.
“The BoE shall meet regularly to appraise the research and development project and submit progress reports to the CBN.”
The scheme, the CBN added, would be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund, noting that disbursement under the scheme would be made to beneficiaries in tranches, subject to approved milestones achieved.
