The Federal Government has signed a Memorandum of Understanding with Global Biofuels Limited, an indigenous bio-fuel producer, for the construction of 15 integrated bio-fuel plants in Kogi State and 14 others.
The Minister of Trade and Investment, Olusegun Aganga signed on behalf of the Federal Government, while the Managing Director/CEO, Global Biofuels Limited, Dr. Felix Obada, signed on behalf of his company.
Aganga said the project is expected to create a total of 120, 000 direct and 750,000 indirect jobs across the value chain in addition to linking 15 states of the federation to cheap bio-fuel generated electricity at the rate of 30 megawatts per state.
Construction work on the pilot plant, which will be established in Ekiti State, will commence in the first quarter of 2012 and will be completed within 12 months, while 14 additional plants will be established in 14 other states after the completion of the pilot project.
The beneficiary states are Kogi, Ondo, Osun, Kwara, Benue, Gombe, Bauchi, Zamfara, Kano, Kaduna, Nasarawa and Plateau, according to a statement from the Ministry of Trade and Investment.
Aganga said the project had been subjected to stringent feasibility and market studies, adding that the ministry would partner other focal ministries and parastatals of the federal and state governments to ensure the successful execution of the project.
He noted that the project was the culmination of several years of hard work and intensive research between Global Biofuels and its collaborators in Research Institutes in Nigeria, China, Brazil and India, adding that when completed, the project would positively impact the nation’s economy and attract more Foreign Direct Investments into the country.
He said: “The company will commence the implementation of an agro-based industrial activity for the production of ethanol, biomass electric power and food, all from a single industrial complex, using sweet sorghum as raw materials. The pilot project is presently established at Ilemeso, Ekiti State.
