Nigeria and other African countries will have to pay between $3 and $10 per COVID-19 vaccine dose to access 270 million shots secured by the African Union.
This is according to a proposal on the plan prepared by the African Export-Import Bank (Afreximbank), Reuters reported Wednesday.
Although discounted compared to what richer nations pay, there are concerns some African countries may still find the cost burdensome at a time of an economic crisis.
Countries that receive the vaccines and are not able to pay for them immediately, will be covered by a loan, payable in installments over five to seven years, the document showed, according to Reuters.
It quoted the Afreximbank as saying through a spokesperson that the document was a draft and meant for confidential discussion by a team created by the AU to secure vaccines and financing for the continent’s coronavirus immunisation programmes.
The plan is different from the COVAX global vaccine sharing scheme led by the World Health Organization and the GAVI.
If the plan goes through, Nigeria may have to pay over $200 million if it takes its full allocation of 42 million doses.
That would be at an average of N3183 per dose.
More than 3.3 million COVID-19 cases and over 80,000 deaths have been recorded on the continent as of Wednesday.
The document showed that talks were underway to secure additional vaccines, including Russia’s Sputnik V.
The report said AU is troubled that vaccine supplies to be released through COVAX in the first half of the year may not extend beyond the needs of frontline healthcare workers.
A breakdown of the cost showed that 100 million doses of AstraZeneca’s vaccine may go for $3 each, while Pfizer will provide 50 million doses of its two-shot vaccine at $6.75 each.
The European Union and the United States are paying around $19 per dose, while Israel is paying $30 for the Pfizer vaccine.
The report says the World Bank was in discussions with the African Union and governments throughout Africa to support their vaccine needs but did not provide further details.
Cyril Ramaphosa, South African President, confirmed last week that arrangements had been made with the bank to support member states who want access to vaccines.