The Federal Government has renewed its push to develop Nigeria’s cassava bioethanol value chain, positioning it as a catalyst for industrial expansion, energy security, and economic stability.
Atiku Bagudu, Minister of Budget and Economic Planning, made this known on Wednesday in Abeokuta during a capacity-building workshop for stakeholders under the Cassava Bioethanol Value Chain Development Project in the South-West.
He said the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda, which aims to convert Nigeria’s agricultural strengths into industrial and economic gains.
Represented by Auwal Mohammed, the Director of Economic Growth, Bagudu said the programme is designed to shift Nigeria from producing cassava mainly for food consumption to large-scale industrial and energy applications.
Despite being the world’s largest producer of cassava, he noted that Nigeria has yet to fully unlock 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 explained that blending bioethanol with Premium Motor Spirit (PMS) could reduce fuel import dependence and save billions of naira in foreign exchange.
According to the minister, the project will help stimulate a bio-based economy, strengthen the naira, and integrate millions of smallholder farmers into a broader industrial value chain.
He added that the initiative aligns with Nigeria’s National Bio-Economy Policy, which promotes a circular economy approach by maximising the entire cassava value chain.
Beyond ethanol production, the project seeks to unlock value from:
- High-quality industrial starch
- Carbon dioxide captured during fermentation
- Animal feed derived from distillery grains
“We are not just building factories; we are building a future where Nigeria becomes a global hub for bio-resources,” Bagudu said, stressing that government investments must translate into jobs, youth empowerment, and improved food security.
