May 31, 2017 / 2:18 PM / 3 months ago

Nigerian cabinet approves vaccines joint venture with May & Baker

ABUJA, May 31 (Reuters) - Nigeria's cabinet approved on Wednesday a plan to set up a joint venture with pharmaceutical firm May & Baker Nigeria Plc to produce vaccines, with an initial capital of 100 million naira ($328,515), the health minister said.

Isaac Adewole told reporters the joint venture would be based in the commercial capital Lagos with the government holding 49 percent and the pharmaceutical firm the rest.

$1 = 304.4000 naira $1 = 304.4000 naira Reporting by Felx Onuah; Writing by Ulf Laessing; Editing by Susan Fenton

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