Nigeria is set to save $30 million annually through the conversion of cassava to ethanol, according to Chief Uche Nnaji, the Minister of Innovation, Science and Technology.
This announcement was made at the signing of a Memorandum of Understanding (MoU) between Montserrado Investments and the Federal Institute of Industrial Research Oshodi (FIIRO) to build a cassava-based ethanol plant in Ekiti State.
Chief Nnaji emphasised the economic and environmental benefits of this initiative, stating that the ethanol plant will significantly reduce Nigeria’s reliance on imported ethanol.
He also stated that the project is consistent with the government’s commitment to utilising local resources for sustainable development.
The Minister said:
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 further explained that though the pilot project will commence in Ekiti state, it will be established later in the geo political zones across the nation.
He added that the government is earnestly sourcing for means of creating dollars through businesses and as such this project would save alot of funds that would ordinary have been lost on importation.
“Nigeria is the biggest producer of cassava in the whole world with 64 million metric tonnes, and yet, we are deriving just about a million dollars out of cassava. However, we have counties like venezuela which produces about 800,000 metric tones and makes much more money yearly from the crop,” Nnaji buttressed.
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.
On 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.”
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.