NNPC to establish biofuel plant in Ondo, create one million jobs
The Nigerian National Petroleum Corporation (NNPC) and the Ondo State government have concluded plans to establish a biofuel plant in the state to create no fewer than one million jobs and reduce carbon emission in the country.
NNPC said the country would earn $150 million yearly from its bio-fuel, an alternative energy initiative, which is expected to use agricultural produce such as cassava and sugar cane to produce ethanol that could serve as a good alternative to petrol.
Governor Oluwarotimi Akeredolu, said at the signing of a Memorandum of Understanding (MoU) between the corporation and state that the plant, which would be located at Okeluse area would produce 65 million litres of biofuel yearly.
He expressed confidence that the biofuel project would commence for the benefit of Ondo people and the country in general.
He assured that the state has enough farmers and cassava to sustain the biofuel plant, stressing that his visit was to show his commitment to the project.
Group Managing Director of NNPC, Maikanti Baru, said the move was part of commitment to ensure unimpeded supply of petroleum products and safeguard the environment through reduction of carbon emissions.
Baru explained that the project was not a 100 per cent NNPC subsidiary and that some investors have a stake in the project.
On the benefits of the project, he disclosed the construction of the plant and the production of cassava feedstock could create at least one million direct and indirect jobs.
He added that the project would lead to a reduction in fuel import and greenhouse gas emission to combat global warming, as well as boost production of animal feeds from its by-products.
Baru allayed fears of negative impact of the plant on the supply of cassava-based foods, noting that the cassava that would be used for the biofuel project was a special breed.
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