Nigeria To Save $30million From Conversion Of Cassava To Ethanol – Nnaji
Nigeria: The country is set to save $30 million annually by converting cassava to ethanol, announced Minister of Innovation, Science, and Technology Uche Nnaji. A MoU was signed between Montserrado Investments and FIIRO to establish a cassava-based ethanol plant in Ekiti State. This initiative will support local farmers, create jobs, reduce ethanol imports, and enhance energy security. The project will expand to other geopolitical zones, promoting sustainable development.
Nigeria is set to save $30 million annually through the conversion of cassava to ethanol, according to the Minister of Innovation, Science, and Technology Uche Nnaji.
This announcement was made during the signing of a Memorandum of Understanding (MoU) between Montserrado Investments and the Federal Institute of Industrial Research Oshodi (FIIRO) to establish a cassava-based ethanol plant in Ekiti State.
Nnaji emphasized the economic and environmental benefits of this initiative, highlighting that the ethanol plant will significantly reduce Nigeria’s dependence on imported ethanol. He added that the project aligns with the government’s commitment to leveraging local resources for sustainable development.
“It will support local farmers, creating a sustainable supply chain, and stimulating employment across the agricultural sector. It will also reduce reliance on imported cooking fuels by developing a domestic ethanol production industry, thereby safeguarding the economy against global market fluctuations,” Nnaji said.
The Minister further explained that though the pilot project will commence in Ekiti State, it will later be expanded to other geopolitical zones across the nation. He noted that the government is earnestly seeking ways to generate foreign exchange through local businesses, adding that this project would save substantial funds that would otherwise be spent on importation.
According to Nnaji, “Nigeria is the biggest producer of cassava in the world with 64 million metric tonnes, yet we are deriving just about a million dollars from cassava. In contrast, countries like Venezuela, which produce about 800,000 metric tonnes, make much more money yearly from the crop,”
The cassava-based ethanol plant is expected to enhance local cassava farming, create job opportunities, and contribute to the nation’s renewable energy goals. Montserrado Investments, in collaboration with FIIRO, aims to utilize advanced technology to convert cassava into ethanol efficiently, thereby promoting industrial growth and economic stability.
Jummai Adamu Tutuwa, CEO of FIIRO, said that the benefits of the collaboration include generating substantial economic activities, creating jobs, and spurring ancillary industries. “The bioethanol as an alternative fuel source can reduce Ekiti State’s dependence on non-renewable energy, thereby enhancing energy security and promoting environmental sustainability. It will also 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,” she added.
According to the Ministry of Science, this initiative underscores Nigeria’s strategic efforts to diversify its energy sources and foster innovation in the agricultural and industrial sectors. By harnessing the potential of cassava, the nation can drive economic growth, reduce foreign expenditure, and pave the way for a greener future.
Source Link: https://www.tv360nigeria.com/nigeria-to-save-30million-from-conversion-of-cassava-to-ethanol-nnaji/
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