Apart from the N50 million research activities, you can as well get another N500 million grant for the development and manufacturing of drugs under the Healthcare Sector Research and Development Intervention Scheme (HSRDIS).
Yes, you read that right. And in this article, we’ll tell you all you need to benefit from the HSRDIS funded by the Central Bank of Nigeria (CBN) and how to submit your application for the grant.
The application is ongoing
Why HSRDIS?
The 2020 outbreak of the deadly Coronavirus (COVID-19) forced the Nigerian government to push for grant to medical research.
The country has seen how Nigerians are majorly involved in groundbreaking medical research in foreign institutions.
One of them is Dr. Onyema Ogbuagu who led the Pfizer trial for the coronavirus vaccine in the United States.
Ogbuagu, who studied Medicine at the University of Calabar in 2003 is also director of the HIV Clinical Trials programme of the Yale AIDS Programme, Section of Infectious Diseases of the Yale School of Medicine, New Haven, New York City.
“Nigerians contribute to the world in so many ways. Our hats off to Dr. Onyema Ogbuagbu at Yale who helped develop a COVID-19 vaccine,” the United States (U.S.) embassy said.
In oversee countries, government and private bodies commit several billions of US dollars to medical research and other developmental projects.
This is one of the major reasons Nigerian expert immigrate to countries where their efforts will be supported and appreciated.
During the launch, the Central Bank of Nigeria said the Healthcare Sector Research and Development Intervention Scheme is one of its policies to respond to the COVID-19 pandemic/
Aim:
1) To help strengthen the public healthcare system with innovative financing of research and development (R&D)
2) To financially support researchers in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.
3) To support the activities of researchers in developing drugs and herbal medicines against the spread of COVID-19
4) To support biotechnological and pharmaceutical companies and institutions
5) To boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply
5) To reduce the bulk manufacturing costs of the drugs, herbal medicines and vaccines in Nigeria.
6) To reduce reliance on the importation of drugs.
Eligibility for Healthcare Research Development Grant
Research activities supported by the CBN grant are:
1) Research and development of candidate drugs or herbal medicines that have been authenticated by relevant health authorities e.g NAFDAC, NACA
2) Manufacturing of drugs and herbal medicines validated by relevant health authorities
3) Red biotechnological R&D in new health technology for the control, prevention and treatment of infectious diseases;
4) Research partnership between academia and industry into the development of drugs and vaccines for the control, prevention and treatment of infectious diseases;
5) Research and development into validated phytomedicines for the control, prevention and treatment of infectious diseases.
Criteria for Qualification:
if you are eligible as outlined above, it is also very important that you’re required to have conducted preclinical testing of the drugs or herbal medicines and vaccines.
You must have also obtained certification from relevant health authorities for further research and development.
There is still more:
You stand a better chance of getting the CBN’s Healthcare Research Development Grant if:
Your drugs, herbal medicines and vaccines have high scientific merit against emerging infections
Your research can contribute to the development of the Nigerian vaccine.
Disbursement
Disbursement under the HSRDIS shall be made to beneficiaries in tranches subject to approved milestones achieved
Development Timeframe
- Research activities: Not more than two (2) years from the date of release of fund.
- Development/Manufacturing activities: Not more than one (1) year from the date of release of fund.
HSRDIS Grant limit:
- Research activities: Maximum of N50 million
- Manufacturing activities: Maximum of N500 million
If you like, you can call it CBN intervention fund for healthcare development, the screening and verification of your submission is done by a Body of Experts (BoE) constituted by the apex bank.
The composition of the BoE shall include:
- Two independent research specialists appointed by the CBN
- One nominee from Nigeria Centre for Disease Control (NCDC)
- One nominee from National Agency for Food and Drug Administration and Control (NAFDAC)
- One nominee from the Federal Ministry of Health
- One nominee from Nigeria Institute for Pharmaceutical Research and Development (NIPRD)
- One nominee from Nigeria Institute of Medical Research (NIMR)
- One nominee from the Federal Ministry of Health
Step By Step Guide On How To Submit Application For HSRDIS Via NAFDAC
NOTE: NAFDAC is the National Agency for Food, Drug Administration Control. The agency regulates the manufacturing of drugs, testing, control and certifies if a drug is safe for use in Nigeria.
According to the CBN’s Director of Development Finance, Mr. Yila Yusuf, 34 applications were received as at August 2020.
“As we speak, as at today, we have received over 34 applications asking for N90 billion. What is exciting is that 90 per cent of those applications were from our universities, he said while featuring on Arise News Channel
So, here is how to apply for the CBN’s Healthcare Research Development Grant
Step 1: Submit your application for documentation at NAFDAC or relevant health authorities.
Step 2: Fill the NAFDAC application form to conduct clinical trials (See the form HERE).
Step 3: If it scaled through the NAFDC huddle, it’s forwarded to CBN’s committee called “Body of Experts”
Step 4: The BoE evaluates your applications and recommend to the CBN
Step 5: CBN reviews for documentation adequacy and completeness
Step 6: Upon approval, the grant sum is released to the applicant’s account with any PFI of his/her choice
Participating bank:
Heritage Banking Company
Congratulations!
Note:
The BoE is constituted by the CBN. It also appoints the chairman of the committee
You are also mandated to submit a periodic progress report on the project to the CBN.
Ready to apply? Check more details on the CBN page
Conclusion:
The Healthcare Research Development Grant is one of the financing ideas by the CBN. We hope applicants won’t be discouraged by the bureaucratic process involved in accessing loans or grants in Nigeria.