Nigeria signs $297M MoU for cassava-based bioethanol plant
In Nigeria, the Punch newspaper reports The Ogun-Osun River Basin Development Authority and 3D NNPC Biofuels Limited have signed a memorandum of understanding to develop a €256 million bioethanol plant at Itokin in Lagos State. The authority will provide 200 hectares for the facility and make 15,000 hectares of agricultural land available across Lagos, Ogun, Osun and Oyo states for cassava cultivation. The project will establish an integrated feedstock supply chain, including an outgrower scheme for local farmers. The proposed plant will produce ethanol for blending with petrol. The partners estimate that the project could create more than 100,000 direct and indirect jobs. NNPC holds a 25% equity stake in the joint venture. The agreement is an initial development step, with the partners aiming to advance a framework agreement and begin project activities before the end of 2026.
Category: Fuels
