The Senior Consultant and Country Lead at Africa Practice, Agwu Ojowu, has said that the adoption of Ethanol as biofuel will significantly spur economic development in Nigeria.
He said that as the country seeks to diversify its energy sources and reduce dependence on fossil fuels, ethanol emerges as a viable alternative that can drive sustainable growth and create numerous economic opportunities.
Ojowu stated this during his presentation at the Major Energies Marketers Association of Nigeria’s (MEMAN) quarterly press webinar, saying that there would be an increase in investment across the value chain that would help to prevent post-harvest losses and improve productivity.
The senior consultant, who spoke on the potential of Ethanol, said Nigeria produces about 63 million metric tonnes of cassava yearly, adding, however, that 40 per cent of that production is lost yearly.
He stressed that a lot of cassava produce is wasted but biofuel would provide additional income for farmers with an increase in local economic growth. Also, Chief Executive Officer of MEMAN, Clement Isong, said Nigeria has capacities for biofuels, noting that there are opportunities for the country to bridge the energy needs by tapping all.
He said there were gaps to be filled, noting that renewable energies will never bridge the gap.
