Biovaccines Nigeria Limited, a partnership with the Federal government was incorporated in 2005. The company is owned 51 percent by May & Baker Nigeria Plc. and 49 percent by the Federal Government. It is a vaccine production and distribution company.

The objective of Biovaccines Nigeria Limited is to produce safe and affordable human vaccines for Nigeria and reverse the situation of high mortality from immunizable diseases. It also plans to create a regional center for vaccine production in West Africa and position Nigeria as a global player in the vaccine business.