NIGERIA: NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) SIGNED MOU WITH ONDO STATE GOVERNMENT TO ESTABLISH A 65,000 MILLION BIOFUEL PLANT - CALIPHATE MEDIA

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Wednesday, 1 November 2017

NIGERIA: NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) SIGNED MOU WITH ONDO STATE GOVERNMENT TO ESTABLISH A 65,000 MILLION BIOFUEL PLANT




 
The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) with the Ondo State Government to establish a 65,000 million plant litres biofuel plant in Okeluse, Ondo State FROM CASSAVA.  Present at the signing ceremony were representatives of Nigeria Export-Import Bank (NEXIM Bank), New Partnership for African Development (NEPAD) and National Oil Spill Detection and Response Agency (NOSDRA).
The signing of the MoU took place at the NNPC Towers in Abuja.  At the occasion, the Group Managing Director of the NNPC, Dr. Maikanti Baru, explained that the project was not a one-hundred-per-cent NNPC subsidiary and that some investors were also bringing in Foreign Direct Investment.

The GMD also allayed fears of any possible negative impact of the plant on the supply of cassava-based foods for human consumption, stressing that the cassava that would be used for the biofuel project was a special breed that would not be in competition for human consumption or interfere with the activities of farmers cultivating other breeds of cassava or indeed other crops.

“Your Excellency, we have already discussed with you and you have agreed to make 15,000 hectares of land available towards the cultivation of this cassava. It will, of course, in the process invite people who are used to farming cassava as well as new entrepreneurs who want to go into that business to participate in the cultivation of the cassava that we are going to use for the production of biofuel.


“We expect that this plant, when built, will be producing at least 65 million litres per annum of fuel ethanol that could be blended into our Premium Motor Spirit (PMS) and will be used in Nigeria and neighboring countries”
He disclosed that the biofuel project would be fitted with a 40 megawatts electricity plant that would power the plant and also supply electricity to the host communities
 The GMD said NNPC intended to commercialize the greenhouse gas emission reduction capability of the project to win carbon credit for the nation from the international community, adding that it could also make money from such by-product as industrial starch and others which could be converted to animal feeds to boost food production in the country.

“The benefits of this project to Nigeria and specifically to Ondo State are immense which include creating at least 1 million jobs and also reducing fuel importation and NNPC is very eager to see it implemented. We are currently working with investors who will invest in the project because there are several dimensions to it”
The Ondo State Governor, Mr. Oluwarotimi Akeredolu, SAN, expressed confidence that the biofuel project would take off for the benefit of the people of the state and the in the country in general.

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