Nigeria Borrows $85M From Japan To Buy Polio Vaccines

nigeria borrows japan

May 26, 2014Nigeria Borrows $85 Million Dollars From Japan For Polio Eradication Vaccines

Nigeria has added another N1.38 billion to her $9.16 billion external debt after borrowing $85 million dollars loan from Japan to aid polio eradication in the country.

Nigeria’ minister of health, Professor Onyebuchi Chukwu who made this known in a recent news conference said the loan would be used in buying polio vaccines.

“The signing of the MOU is an important milestone for the country. It will help us to ensure the availability of vaccines and timely delivery.

“It is my hope that with the loan, polio will be interrupted this year,” Chukwu said.

“The loan will provide financial stability to the programme by fully funding oral polio vaccine for about 18 months from the time it is executed.”

Ryuichi Shoji, Japan’s Ambassador to Nigeria, said their financial contribution would build a robust bridge for Nigeria to achieve the goal of polio eradication.

He said the loan of 85 million dollars would have preferential interest rate of 0.2% per cent.

The loan will be utilised for procurement of polio vaccines for children under five years of age,” he said, noting that, Japan has partnered Nigeria for 14 years on polio.

“As long as a single child remained infected, children in all countries were at risk of polio.

As we speak Nigeria owes $9.16 billion in foreign debt.

9 thoughts on “Nigeria Borrows $85M From Japan To Buy Polio Vaccines

  1. if at this stage we are still using 85 million dollars not naira to buy vaccines, what is the future of our children?

  2. haha Nigerian government there is God o how can you use 85 million to buy polio vaccines

  3. Imagin…borrowing money to eradicate pollo…answering poor man in mist of plenty….God have mercy on this zoo called nigeria

    • @Saphire how there you called nigeria Zoo? Am sure you are a *** because only a **** will call a country where people live a Zoo. i am a nigerian woman and am proud of my country no matter what goes on there,so please respect your self.

  4. Will nigerians keep quiet to this news? Polio is one of the diseases that has attracted international aids and charities. Huge funds are invested by aids agencies and charities and Bill Gate is taking the lead to eradicate Polio in the world, Nigeria has always shared from this yearly.

    Just yesterday over 80 vehicles (and still counting) was given out to one person as a wedding gift (Yes the president daughter). Please tell the donors that the sale of these 80 vehicles WILL DEFINITELY go a long in eradicating polio in Nigeria.

    This $85M loan is NOT for the purpose of polio BUT for the purpose of 2014 election/selection campaign. Nigeria is now a JOKE.

  5. Bunch of useless people are this Nigerian leaders. To me it does not matter where they come from, East, West, North, South, they are all the same.

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