At a meeting in Abuja, the Japanese Ambassador to Nigeria, Mr Ryuichi Shoji, explained that the loan facility help it would need financial assistance in the gaps of zero polio cases in the country.
Speaking of the Japanese Government 14 years of partnership with the Nigerian Government in the area of polio eradication, he said that the 85 million dollar loan would have preferential interest rate of 0.2% per cent.
"The loan will be used to purchase vaccines against polio for children under the age of five," said Mr. Shoji, adding that this would also have positive effects on other countries.
"As long as a single child remained infected, children in all countries were at risk of polio," he said.
Nigeria country representative, Bill and Melinda Gates Foundation, Mairo Mandara the polio eradication efforts, said that Nigeria have experienced considerable progress as a result of the political support that it has enjoyed.
Revealing conditions around the loan, she said: "After Nigeria has the loan agreement, the Foundation will commit to pay back the loan to Japan on behalf of Nigeria as the required margin immunization rates."
For its part, promised the Minister of health Onyebuchi Chukwu, Professor, to ensure rapid provision of vaccines to eradicate the scourge.
"The signing of the memorandum of understanding is an important milestone for the country. It helps us to ensure the availability of vaccines and timely delivery.
"It is my hope that with the loan, polio will be interrupted this year," said Mr. Chukwu.
85 million is about 14billion Naira.