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African Union Holds Global Conference to Accelerate African Vaccine Development and Manufacturing Capacity

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African leaders assembled at a global meeting to discuss the status of local pharmaceutical manufacturing on the continent, underscored the need to increase local production of vaccines and therapeutics to achieve greater public-health security.

“The production of vaccines and access to vaccines is an absolute priority,” Cyril Ramaphosa, President of South Africa, said Monday in opening remarks at the start of the two-day virtual meeting, convened by the African Union.

The meeting was attended by several African heads of state, health, finance and trade ministers from across the continent, as well as officials from global financial institutions, foundations, pharmaceutical manufacturers, business leaders, and the general public. The African Development Bank was represented by Solomon Quaynor, Vice President Private Sector, Infrastructure and Industrialization.

Although Africa consumes approximately one-quarter of global vaccines by volume, it manufactures less than 1% of its routine vaccines, with almost no outbreak vaccine manufacturing in place. The region lags behind in procuring vaccines amid a global scramble for the medicines among wealthier nations. Thus far, only around 2% of the world’s vaccination against Covid-19 has taken place in Africa.

The need for a new public health order in Africa, which promotes domestic vaccine manufacturing, epidemic preparedness and upgraded healthcare systems to meet the needs of the world’s fastest-growing population, was the conference’s main objective.

The African Union and the Africa CDC said they would continue to work with all stakeholders to identify implementable actions, financing needs and timelines to competitively produce vaccines in Africa.

Quaynor noted that the current undertaking would require immense investment. “Vaccine manufacturing, because of its complexity, is not really an entrepreneurial drive but actually an institutional drive,” he added.

The African Development Bank is working with global and African stakeholders, to articulate a 2030 vision for Africa’s Pharmaceutical Industry in response to several calls received from African Heads of State, who have expressed a strong political will. This vision aligns with its “industrialize Africa” priority strategy.

The vision will build on previous efforts to produce a continental plan of action to boost local African pharmaceutical manufacturing capacity, such as the Pharmaceutical Manufacturing Plan for Africa adopted in Abuja in January 2005 and the Pharmaceutical Manufacturing Plan for Africa (PMPA), prepared by the African Union Commission and the United Nations in 2012, to assist local manufacturers with pharmaceutical production.

Quaynor said Africa could count on the African Development Bank’s support to secure Africa’s health defense system. “Leveraging on our comparative advantages, we will both provide upstream support to governments on the enabling environment, as well as provide financing to private sector and PPPs both indirectly through some of our private equity investee funds and directly through lending, and credit and risk guarantees. We will also use the Africa Investment Forum to bring in all relevant stakeholders and partner DFIs into bankable opportunities…”

The 2030 vision for Africa’s pharmaceutical industry would also work with pharmaceutical industry associations in Africa to create capacity development links between universities and industry in Africa, and work with African scientists in the diaspora, Quaynor said in remarks made on behalf of African Development Bank President Akinwumi A. Adesina.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Atiku Blasts Tinubu, Says President’s Haphazard Approach to Fuel Subsidy Caused Current Economic Crisis

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Former Vice President Atiku Abubakar has slammed President Bola Tinubu’s handling of the fuel subsidy crisis, referring to him as “TPain.”

Atiku attributed the current economic challenges facing Nigeria to what he described as the “haphazard and disingenuous approach” of the Tinubu administration to fuel subsidy management.

In his statement posted on X on Thursday, Atiku bemoaned the escalating inflation rate, stating that it is severely impacting the lives of Nigerians.

He lamented that despite the growing hardships, Tinubu appears unfazed by the plight of the citizens.

According to him, the haphazard and disingenuous approach of the current administration to fuel subsidy management has been the reason the nation is witnessing current economic crisis.

He said as things stand, there will be no let up in the escalating inflation rate, which is drowning the material well-being of Nigerian populace.

The former VP said it is even more worrying that Tinubu, whom he referred as “T-pain”, is undisturbed by the hardship in the country.

The nickname ‘TPain’ for Tinubu emerged as a play on the first letter of his name and the name of American rapper and producer T-Pain, sparked by frustrations over the rising cost of living under his administration.

The earliest mention of the term on social media dates back to April 2024.

However, it gained significant traction around September 16, after a user on X used it while discussing the President’s visit to Maiduguri to console flood victims.

The term has gained traction on platforms like X and Instagram.

 

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LG Autonomy: Senators Disagree as Governors Allegedly Mandate Chairmen to Move Allocations Into State Accounts

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Senate President Akpabio

Some members of the Nigerian Senate have expressed displeasure over alleged moves by state governors to thwart the feasibility for the implementation of the Financial Autonomy granted to the 774 Local Government Councils across the country by the Supreme Court in August this year.

There was hot debate amid confusion on Wednesday in the Senate soon after the sixth item which has to do with Petitions was handled when Senator Tony Nwoye from Labour Party in Anambra North came up with a Point of Order which was sustained by the President of the Senate, Senator Godswill Akpabio.

Nwoye who came through orders 41 and 51 of the Senate Standing Rules, moved a motion on alleged moves by some state governments to circumvent the implementation of the judgement on LG Autonomy through counter laws from their respective State House of Assembly.

As he was still speaking to his colleagues at the hallowed Chamber, Nwoye ran into confusion over the matter, just as he told the Senate that nine other Senators had co-sponsored the motion.

He specifically alleged that some State Governors are already using their House of Assembly to enact laws that would mandate respective local government councils in their states to remit monies into State/Local Government Joint Accounts ruled against by the Supreme Court.

Immediately he rounded off his presentation containing six prayers for enforcement of the judgement and seconded by Senator Osita Izunaso, APC Imo West Senator Adamu Aliero, PDP Kebbi Central raised a constitutional point of order for stoppage of debate on the motion.

Adamu Aliero who cited section 287 of the 1999 Constitution that makes Supreme Court Judgement enforceable across the country, urged the Senate not to overflog the issue.

Aliero said the Supreme court judgement is enforceable across the country, adding that there is no need for the parliament to be debating anything that has to do with it.

Agreeing with Senator Aliero, Akpabio raised another constitutional issue as he called on the attention of Senators to section 162 sub-section 6 of the 1999 constitution.

The section according to Akpabio, created the State/Local Government Joint Account, which has to be amended in paving the way for full implementation of the Supreme Court Judgement.

Akpabio said what the Senate needs to do is to carry out required amendments of certain provisions of the constitution as far as local governments autonomy is concerned so as to ensure that local councils have their separate accounts.

But before taking a final decision on the motion, the sponsor, Senator Nwoye hurriedly raised order 42 of the Senate Standing rules for personal explanation on the motion the same time, Senator Abdulrahman Summaila Kawu, (NNPP Kano South) raised a similar point of order.

The simultaneous points of Order brought confusion into the session with many senators rushing to the Senate President for a personal consultation, which eventually, made the Senate go to an emergency closed-door session at exactly 12: 46. pm.

Recall that the Supreme Court had in early August this year, barred the 36 governors of the federation from further retaining or utilizing funds that are meant for the 774 Local Government Areas, LGAs, in the country.

The apex court ruled that it was illegal and unconstitutional for governors to continue to receive and seize funds allocated to LGAs in their states.

The Supreme Court had maintained that the “dubious practice” which has gone on for over two decades, was a clear violation of Section 162 of the 1999 Constitution, as amended.

In its lead judgement that was delivered by Justice Emmanuel Agim, the apex court held that no House of Assembly of any state has the power to make laws that could, in any manner, interfere with monies meant for the LGAs.

Stressing that the law mandated that LGAs must be governed by democratically elected officials, the Supreme Court ordered that forthwith, funds meant for the LGAs must be directly paid to them from the federation account.

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I Knelt Down, Begged Wike for Peace to Reign in Rivers – Fubara Reveals Amid Tension 

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Siminalayi Fubara

Amid the growing political tension and upheaval in Rivers State, Governor Sim Fubara, has revealed that he has done everything possible for him to prevent the current panicking situation in the state.

According to him, he practically knelt down for his estranged political godfather, Nyesom Wike and begged him to let go of their feud, but the former governor rebuffed his pleas.

While speaking on a television political programme, Fubara went into memory lane on how he had strived to please the current Minister of the Federal Capital Territory Abuja, saying he (Fubara) kept all understanding with Wike.

The governor said he has been showing understanding in order not to expose the state to violence but added that the minister thwarted his good intentions for the state, hence the violence that has enveloped Rivers.

According to him, “There is nothing I have not done on this earth for peace to reign. I can tell you the number of times I have knelt to beg that let’s allow this issue to go. I have done everything.”

He therefore urged Wike, his predecessor, to allow peace to reign in the state by letting go of Rivers State.

Fubara stated that the current troubling situation in the riverine state has gotten to a point where Wike needs to let go and allow peace in the state.

Investors King had reported that Rivers was thrown into crisis on Monday, a day after the swearing-in of 22 winners of the controversial Saturday local government elections in the state.

The swearing-in of the chairmen from other political parties other than the ruling Peoples Democratic Party, had enraged Wike’s camp as hoodlums began attacking local government council secretariats, burning office equipment, files, chairs and tables, and equipment.

Disturbed by the ugly development, President Bola Tinubu had directed the Inspector General of Police, Kayode Egbetokun, to secure Rivers State’s local government secretariats following the arsons.

Meanwhile, Olabode George, former deputy national chairman of the PDP, urged Wike to allow Fubara to work.

In a statement, George said asked Wike to leave Fubara alone and allow him to fastrack dividends of democracy for his people.

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