Nigeria's Private Sector Coalition Against COVID-19 (CACOVID), has announced a $100 million fund to help the country purchase coronavirus vaccines.

The coalition said in a press statement today that it had already secured one million doses at $3.45 million through the AfrieximBank, being the first tranche.

"CACOVID will purchase vaccines through other credible and subsidized mechanisms such as COVAX. The vaccines will be delivered to Nigeria and distributed through the National Primary Healthcare Development Agency (NPHCDA).

“CACOVID would like the Nigerian public to understand that vaccine purchase is only possible through the Federal Government of Nigeria, and that no individual or company can purchase vaccines directly from any legitimate and recognized manufacturer,” it stated.

On Monday, local media reported that a conglomerate, the BUA Group, had singlehandedly secured one million doses of coronavirus vaccines for the country.

But CACOVID dispelled the report in its press release. It stressed that: "CACOVID operates on a collegiate fund contribution model. There is no agreement between BUA, CACOVID and Afreximbank."