The Federal Government has reaffirmed its commitment to developing Nigeria’s cassava bioethanol value chain as part of efforts to drive industrial expansion and economic stability.
Minister of Budget and Economic Planning, Atiku Bagudu, made this known on Wednesday in Abeokuta during a capacity-building workshop for stakeholders on the Cassava Bioethanol Value Chain Development Project in the South-West zone.
He said the workshop aligns with President Bola Tinubu’s Renewed Hope Agenda, which seeks to transform Nigeria’s agricultural strengths into industrial and economic gains.
Represented by the Director of Economic Growth, Auwal Mohammed, the minister said the initiative is designed to move Nigeria beyond producing cassava solely for food consumption toward large-scale industrial and energy applications.
Despite being the world’s largest cassava producer, he noted that Nigeria has not fully harnessed the crop’s economic potential.
“As the world transitions towards a greener and more sustainable economy, bioethanol presents a significant opportunity for Nigeria,” he said.
Bagudu added that blending bioethanol with Premium Motor Spirit (PMS) could cut dependence on fuel imports and save billions of naira in foreign exchange.
He said the initiative would stimulate a bio-based economy, strengthen the naira, and integrate millions of smallholder farmers into an expanded industrial value chain.
According to him, the project is consistent with Nigeria’s National Bio-Economy Policy, which promotes a circular economy approach that maximises the full cassava value chain.
