Bill and Mellinda Gates Foundation a loan of JPY 8,258,000,000 (equivalent of $85 million by Japan to Nigeria for the Polio Eradication Project.
The foundation is to write off the loan if the country meets the required immunization coverage rates.
Nigeria and Japan signed an agreement to that effect Monday in Abuja with Japanese Ambassador to Nigeria, Mr. Ryuich Shoji and Minister of Health, Prof. Onyebuchi Chukwu signing for both countries respectively.
The loan is in support of polio immunisation campaigns in Nigeria to optimise immunization of vaccines to children under five years of age through procurement of polio vaccine, thereby contributing to polio eradication in Nigeria.
Nigeria is listed among the three remaining countries (Nigeria, Afghanistan and Pakistan) where wild poliovirus still exists.
Speaking shortly after signing the loan agreement, Prof. Chukwu reiterated the Federal Government commitment to interrupt polio transmission in the country this year.
He said the government will do all within its power to meet the target of eradicating polio in the country,
Prof. Chukwu said, "The Federal Government is committed to interrupting polio transmission in Nigeria in 2014.We shall do all within our powers to ensure that we meet the target of the polio eradication project in Nigeria."
He also expressed hope that with the loan aid from Japan and other usual support from other international partners, "polio transmission will be interrupted this year."
The minister noted that the country in the last one year had made progress, with just three new cases of polio reported in 2014.
He also thanked the Bill and Mellinda Gtes Foundation for guaranteeing the buy-down of the loan. The foundation remains a major contributor to the polio eradication effort in Nigeria and indeed globally.
Speaking earlier, Mr. Shoji said the occasion marked a historic milestone in the campaign against polio.
The Ambassador noted that when polio is finally eradicated in Nigeria, the beneficiaries would not be limited to the people of Nigeria, stressing that "as long as a single child remains infected , children in all countries are at risk of polio."
The Ambassador also acknowledged Nigeria's efforts in the fight to eradicate polio, but that Nigeria was yet to achieve the ultimate goal of polio eradication.
“Childhood killer diseases such as polio are still rampant despite the fact that they are vaccine-preventable. The level of child mortality can be reduced with simple intervention of immunisation of polio vaccine delivered in an integrated manner,” he said.
He said the signing of the loan agreement was not the end but beginning of the last stage of our fight against polio in Nigeria; stressing that "we need to renew our determination and further strengthen our efforts based on our past achievements, and we have to stay sharp and keep vigilant until the last moment."
Bill and Melinda Gates Foundation's Country Representative, Dr. Mario Mandara said "after Nigeria has executed the loan agreement, the foundation will commit to repay the loan to Japan (principle and interest) on behalf of Nigeria.”
She added a clause saying that the payment would only be made "if the required immunization coverage rates are met by the country."
Mandara stressed that there was a need for quick work to effectuate the loan, adding that "there are steps that must be followed.”
The Execute Director, National Primary HealthCare Development Agency (NPHCDA) Dr. Ado Mohammed said Nigeria was at the point of history," we are almost there, working to ensure effective surveillance measure across the boarder."
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