FG Targets N3trn Annual Savings As 14 Million Farmers Join Cassava Bio-Ethanol Value Chain
The Federal Government has unveiled plans to empower about 14 million smallholder farmers under the Cassava Bio-Ethanol Value Chain Development Project, a move expected to slash fuel import costs and strengthen Nigeria’s bio-economy.
The initiative was disclosed by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, during a two-day stakeholder capacity-building workshop for the South-East zone held in Enugu.
In a statement signed by the ministry’s Director of Information and Public Relations, Mrs Osagie Jacobs, Bagudu said the project would integrate farmers into industrial production while linking agriculture to energy transition, rural development and domestic value addition.
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Represented by the Director of Economic Growth, Mr Auwal Mohammed, the minister explained that blending bio-ethanol with Premium Motor Spirit could save Nigeria over N3 trillion annually in foreign exchange by reducing dependence on imported fuel.
He added that the intervention would reposition cassava as a strategic industrial crop, create jobs, boost rural incomes and expand Nigeria’s capacity in the renewable energy market.
“We are looking at the entire value chain, from high-quality stems and starch to CO₂ captured during fermentation and animal feeds produced from distillery grains,” Bagudu said.
He noted that the project would be implemented through a Triple-Helix knowledge-transfer partnership aimed at deploying high-yield, disease-resistant cassava varieties, attracting investment, expanding technology and market access, and strengthening infrastructure and the enabling environment.
Also speaking, Director of Agriculture at the ministry’s Economic Growth Department, Mr Olaifa Alade, said the workshop was designed to prepare key stakeholders for the effective rollout of the cassava bio-ethanol project nationwide.