The Federal Government, on Wednesday  partnered with Montserrado Investments Ltd. and the Federal Institute of Industrial Research (FIRRO) Oshodi on investment in bioethanol production in Ekiti

Chief Uche Nnaji, Minister of Innovation, Science and Technology, signed a Memorandum of Understanding (MoU) with Montserrado Investments Ltd. and FIRRO in Abuja.

Nnaji said the collaboration was a significant milestone in a shared commitment of advancing Nigeria’s bio-energy value chain and promoting sustainable development.

“Today’s agreement is a testament to our collective efforts to support government’s commitment to transition to clean cooking fuel.

“By facilitating the production and use of ethanol derived from cassava, we are taking a vital step towards reducing our reliance on fossil fuels and embracing renewable energy sources,” he said.

The minister explained that the cassava-to-ethanol industry represented a powerful engine for economic growth.

According to him, local farmers need to be supported in order to by fostering such industry. This can be achieved by creating a sustainable supply chain, and stimulating employment across the agricultural sector.

Nnaji stated that promoting import substitution through development of a domestic ethanol production industry was critical to national development.

Similarly, John Uwajumogu, Special Adviser to the president on Trade and Investment, said the project was about using innovation to convert agricultural resource into energy source.

He said this would facilitate ability to develop local capacity for utilising agricultural products.

Mr Ifeanyi Ajuluchukwu, the Chief Executive Officer, Montserrado Ltd, said his company’s job was to ensure conversion of cassava into economic value.

He said that Ekiti government already laid the foundation by doing proper studies and encouraging and supporting its farmers to produce excess cassava.

Gov. Biodun Oyebanji of Ekiti, said that there were up to 30,000 hectares of land devoted to cassava production in the state.

Oyebanji was represented by the state Commissioner for Innovation, Seun Fakuade,

Earlier, Jummai Tutuwa, CEO, FIRRO, remarked that the MoU not only signified investment in bioethanol production, but also in the future of Ekiti and in Nigeria at large. (NAN)