From Charity Nwakaudu,Abuja
The Minister of Innovation Science and Technology, Chief Uche Nnaji said Nigeria will save $30 million annually from importation of ethanol.
Chief Nnaji made this known in Abuja, yesterday while witnessing the signing of Memorandum of Understanding between Montserrado Investments and Federal Institute of Industrial Research Oshodi (FIIRO) to establish cassava-based ethanol plant in Ekiti State.
He lamented that despite being the largest producer of cassava in the world with about 64 million Metric tons, Nigeria derive just a million dollars from cassava annually.
According to the Minister, the partnership is aimed at harnessing the economic potential of the cassava-to-ethanol industry, which will provide significant benefits to all parties
“It will Support local farmers, creating a sustainable supply chain, and stimulating employment across the agricultural sector” he added.
“It will also Reduce reliance on imported cooking fuels by developing a domestic ethanol production industry, thereby safeguarding the economy against global market fluctuations” the Minister noted.
Nnaji explained that the pilot project will commence in Ekiti state adding that it will be established later in the geo political zones in the country.
“Implementing the pilot project in Ekiti State is to represent the Southwest region, with plans to expand to all six geopolitical zones in Nigeria” he noted
The Minister further added that the President Bola Ahmed Tinubu led government is seriously sourcing for means of creating dollars through businesses.
“We are looking out worldly according to the President Bola Tinubu’s renewed hope agenda to see how we can create alot of dollars instead of importation” the Minister emphasized.
In her part, Dr. Jummai Adamu Tutuwa CEO FIIRO, stated that the benefits of the collaboration include: generation of substantial economic activities, adding that through the establishment of processing plants, creating jobs, and spurring ancillary industries.
She said”the bioethanol as an alternative fuel source, Ekiti State can reduce its dependence on non-renewable energy, thereby enhancing energy security and promoting environmental sustainability.
It will motivate farmers to increase cassava production, improving income levels and livelihoods in rural areas.
The partnership will facilitate the transfer of advanced technologies and skills to local communities, fostering innovation and capacity building within the state.”
