In a landmark move toward economic diversification, Chief Uche Nnaji, Nigeria’s Minister of Innovation, Science and Technology, has emphasized the pivotal importance of developing the ethanol industry. The initiative aims to convert cassava into ethanol, reducing reliance on imported cooking fuel and fortifying the economy against global market shifts.
This significant step was unveiled during the signing of a memorandum of understanding (MoU) between Montserrado Investment Limited and the Federal Institute of Industrial Research Oshodi (FIIRO) in Abuja.
Minister Nnaji highlighted the project’s potential to unlock economic growth, substitute imports, and bolster regional development through cassava-derived ethanol production. Stressing the shift towards clean cooking fuel, he highlighted its role in mitigating fossil fuel dependency and advancing renewable energy sources.
The collaboration between Montserrado Investment Limited and FIIRO aims to establish an ethanol processing plant adhering to international environmental standards and operational efficiency.
Commending Ekiti State Governor, Dr. Biodun Oyebanji, for spearheading this transformative effort, Minister Nnaji expressed optimism that the initiative would catalyze bio-energy initiatives nationwide. He emphasized the collective efforts required to achieve mutual goals of economic prosperity, environmental sustainability, and societal well-being.
Representatives from Ekiti State echoed these sentiments, emphasizing the potential for wealth creation, job opportunities, and increased investments resulting from the partnership. The ministry reaffirmed its commitment to supporting FIIRO in sustaining the industry’s growth and development.
Dr. Jummai Adamu Tutuwa, Director-General of the Federal Institute of Industrial Research Oshodi, hailed the collaboration as a crucial milestone in Nigeria’s sustainable development and industrial advancement. She highlighted FIIRO’s dedication to pioneering projects aimed at harnessing Nigeria’s agricultural and mineral resources for socio-economic progress.
This initiative not only marks a significant stride towards economic diversification but also underscores Nigeria’s commitment to leveraging its natural resources for sustainable development in the global arena.
Related Article: Can Nigeria Develop Its Oil Without Sacrificing its Environment?
