Nigerian government signs €2 billion bioenergy deal
The Nigerian government has signed a deal with Global Biofuels, a local biofuel producer, to build 15 biofuel plants in the country, costing about N414 billion (€2.02 billion) in total.
The project will create about 120,000 jobs and will power 15 states with 30MW each. A pilot plant will be built in Ekiti, with construction beginning within the next few months and finishing in a year’s time.
The Nigerian minister of trade and investment, Olusegun Aganga, says the project has been researched over a number of years and feasibility and market studies had already been carried out on the proposed developments.
Ethanol will also be produced under the plans, using sweet sorghum as a feedstock, with 14 more plants scheduled to be built in Ondo, Osun, Kwara, Kogi, Benue, Gombe, Bauchi, Zamfara, Kano, Kaduna, Nasarawa and Plateau – if the pilot plant is a success.
Around 70% of the total project will be financed by the Chinese government and the rest of the funds will come from other financial institutions, including the Nigerian Export Import Bank, ECOWAS Bank for Investment and Development, Africa Finance, Fond Gari of Togo and First Bank of Nigeria.