By Ayobami Adedinni
Industry stakeholders have urged the Federal Government to encourage human and technological capacity building to serve as a means of fast tracking Nigeria’s bio economic revolution.
They stated this at the end of a one-day capacity building and sensitization workshop organized by the Petroleum Products Pricing Regulatory Authority (PPPRA).
In a communiqué made available to Nigerian NewsDirect, the stakeholders said the government should develop the needed infrastructure to prepare Nigeria’s business environment for efficient start up and sustainable profitability of Nigeria bio energy industry.
It said, “The bio energy opportunities in Nigeria is a vast and profitable venture through Nigeria’s agro allied industry will be linked with the Oil and Gas Industry for enhanced development and profitability. This aligns with United Nations’ Framework Convention on Climate Change (UNFCCC) Paris Agreement, to which Nigeria is a signatory.
“ In view of the need for Public Private Partnership (PPP) funding , Central Bank of Nigeria (CBN) should harness and put in place relevant procedures and processes for the utilization.
“PPPRA and other relevant MDAs should continue with awareness creation on the benefits of bio energy industry and advocate the implementation of bio fuel projects to ensure the success of the industry. Bio fuel stakeholders should take advantage of available technologies and equipment as well as partner with relevant local and international investors to utilize locally sourced feedstock for the implementation of the bio energy industry,” it stated.
According to them, government needs to empower regulators to drive the industry from the drawing board viable industry programme.
On the way forward, the communiqué stated, “In order to steer the hitch –free implementation of the bio energy industry, the Federal Government should identify and empower relevant value-chain industries regulators to drive the industry from the drawing board to viable industry programme.
“Act of parliament to drive and develop relevant incentives regime should be enacted to drive the governmental support required to steer the industry for timely and profitable achievement.
“Bio energy production should be used as a catalyst for the commercialization and industrialization of the nation’s current subsistence agricultural and agro allied industry, the cultivation of feedstock such as Jetropha and others should be used for the production of biodiesel as well as serve as a means of curbing desertification and erosion in all regions of Nigeria,” the communiqué added.
Recently, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, called for greater urgency in diversifying the economy and reducing dependence on fossil fuel and imported petroleum products, especially following the dwindling price of crude oil and vandalisation in the Niger Delta.
Kachikwu argued that biofuels is bound to enable the country develop a low carbon economy and gradually reduce environmental pollution associated with fossil fuels.
He added that biofuels would also help create a commercially viable and sustainable agro-industrial cluster across the country, noting that it would equally provide the enabling environment for biomass co-generation of electric power.
He urged vehicle owners and generators operators to explore the possible utilization of E-10 Bioethanol and B-20 Biodiesel which are the two specifications of biofuels currently endorsed by the stakeholders.
“Industrialized countries like USA, Brazil and other countries across Europe have been producing and utilizing biofuels. I believe we should look in that direction, knowing that the biofuels industry has huge investment potentials likely to create opportunity for large, medium and small scale investors,” Kachikwu explained.