The Federal Government has announced that Nigeria could save more than ₦3 trillion annually in foreign exchange by blending bioethanol with Premium Motor Spirit (PMS). The initiative is designed to reduce dependence on imported fuel while boosting domestic agricultural and industrial value chains.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, highlighted the plan during a capacity-building workshop for stakeholders on the Cassava Bioethanol Value Chain Development Project in Enugu, Enugu State. He was represented at the event by the ministry’s Director of Economic Growth, Mr. Auwal Mohammed.
Bagudu explained that the move toward domestically produced bioethanol would place millions of smallholder farmers at the center of Nigeria’s cassava growth strategy. Under the Cassava Bioethanol Value Chain Development Project, the government aims to empower approximately 14 million farmers to participate across the cassava value chain.
The project aligns with the national Bio-Economy Policy, which seeks to expand beyond ethanol production into a circular economy model. “We are looking at the entire value chain, from high-quality stems and starch to the CO2 captured during fermentation and the animal feeds produced from distillery grains,” Bagudu said.
He emphasized that the initiative combines agricultural innovation, private sector investment, and institutional support through a Triple-Helix knowledge transfer framework. The strategy will focus on delivering high-yield, disease-resistant cassava varieties, attracting investments, facilitating technology and market access, and ensuring the right infrastructure and policies are in place for sustainable growth.
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