…… Urges NASS to pass Biofuel Bill

From Femi Folaranmi, Yenagoa

A business magnate, Barr. Amunaboye Clement, has stressed the need for the Nigerian government to make biofuels adoption an integral part of its energy strategy. 


Clement, who is the MD/CEO of Amotoi Global Services, a reputable energy company, who started this in an interview with journalists noted that the adoption of Biofuel would enhance energy security.


“The use of biofuels will greatly reduce greenhouse gas emissions, mitigate impact of climate change, enhance energy security by diversifying fuel sources, as well as improve the nation’s foreign exchange reserves,” he said.


Clement further pointed out that it will also provide more business opportunities, attract investors, diversify revenue streams for agropreneurs, and promote rapid rural development through the cultivation of biofuel feedstocks.


He seized the opportunity to urge the National Assembly to expedite the passage of the biofuels bill seeking to establish the Biofuels Energy Regulatory Commission and the Biofuels Research Agency to make the Biofuel policy a reality.


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“The bill, when passed, will provide the legal and institutional frameworks needed to develop the biofuel energy industry in the country, hence our lawmakers should prioritize and pass it into law.”


The entrepreneur lauded the President Bola Tinubu’s administration for recognizing the need to re-institute the Biofuel Policy & Incentives of 2007, describing the move as strategic and progressive.


“Nigeria, as the largest petrol importer in Africa and a net exporter of crude oil, has the potential to substantially gain from transitioning to an E10 and B20 blends.


“When harnessed, various marketers and distributors and, by extension, the Nigerian consumers, will experience immediate economic gains from the implementation of the Biofuel Policy,” he said.


Clement further called on the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), energy marketers, Standard Organisation of Nigeria (SON) and relevant ministries and agencies of government to identify and foster collaboration to develop the industry.


“In addition to the collaboration, there is an urgent need to establish and manage a Nigerian biofuel pilot programme and bolster the country’s technological capabilities in the renewable energy sector,” he said.