Ibadan: The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, says cassava bio-ethanol, utilised in agriculture, industry, energy and for clean environment, will be deployed by the Federal Government for broad-based economic transformation. The minister stated this at the opening of a two-day public-private dialogue on the implementation of cassava bio-ethanol value chain development project in the South-West Geopolitical Zone, in Ibadan.
According to News Agency of Nigeria, the minister, represented by the Director of Economic Growth, Mr Auwal Muhammed, said that the engagement speaks directly to Nigeria’s development priorities, economic diversification, energy security, inclusive growth and climate-responsive industrialisation. “Nigeria is the world’s largest producer of cassava, yet the economic value we derive from this crop remains far below its potential,” he said. Bagudu highlighted the need for value addition, industrial utilisation, market integration, and coordinated implementation to convert cassava into an industrial and energy asset.
The focus on Public-Private Dialogue is crucial as the government cannot undertake this initiative alone, Bagudu noted. He emphasized that the South-West Zone, with its infrastructure, private sector presence, and research institutions, is well-positioned to pilot the cassava bio-ethanol development, with potential for nationwide replication. The minister described the collaboration between the private sector and the government as a “triple helix” aimed at building synergy among private, public sectors, and academia to achieve a $1 trillion economy by 2030.
Bagudu also pointed out the shift from fossil fuels to cleaner energy through bio-ethanol to reduce carbon footprint and promote a healthier environment. The establishment of bio-ethanol plants is expected to save foreign exchange, create jobs, and alleviate poverty. He mentioned the National Bio-Economic Strategic Framework, which aligns with the Renewed Hope Agenda and Agenda 2050, as part of the government’s mandate to sensitize and build the capacity of smallholder farmers, crucial to this project.
Prof. Olumuyiwa Jayeoba from Nasarawa State University, Keffi, emphasized increasing cassava utilisation to boost economic growth, create jobs, and enhance Nigeria’s GDP earnings. He highlighted the economic benefits of producing bio-ethanol domestically, which would save foreign exchange and create wealth for the youth and broader populace, viewing bio-economy as a catalyst for economic growth and development in Nigeria.