• About
  • Advertise
  • Careers
  • Contact
Friday, July 18, 2025
  • Login
No Result
View All Result
NEWSLETTER
Reporters At Large
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
No Result
View All Result
Reporters At Large
No Result
View All Result
Home Featured

‘Biofuels ’ll become Nigeria’s Foreign Exchange Earner, if…”

by ReportersAtLarge
February 7, 2017
in Featured, News
Reading Time: 3 mins read
0
Minister of State for Petroleum Resources, Dr Ibe Kachikwu

Minister of State for Petroleum Resources, Dr Ibe Kachikwu

Share on WhatsappShare on FacebookShare on TwitterShare on Linkedin

THE Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday, said Biofuels would soon become the nation’s foreign exchange earner, if “we can apply both our mind and might into it”.

He also allayed the fears of Nigerians on the current economic recession occasioned by the fall in the price of crude oil in the international market.

Kachikwu made this known at the sensitization workshop on Biofuels Development in Nigeria with the theme: Biofuels: Nigeria’s New Economy, organized by the Petroleum Products Pricing and Regulatory Agency (PPPRA) in collaboration with the Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC), held at the Petroleum Technology Development Fund (PTDF) auditorium in Abuja

Dr. Kachikwu explained that, going by the dwindling price of oil, coupled with the activities of vandals in the Niger Delta, it was imperative to explore alternative energy and revenue sources.

According to him, “I believe biofuel will soon become our foreign exchange earner, if we can apply both our mind and might into it. We can produce crude and fire gas but, ultimately, the only way to sustainably reach every nook and cranny and every citizen of our country with some level of energy supply, is to look towards natural resources such as solar, wind, water resources and biofuel”.

RelatedPosts

Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions

Donald Trump Suffering From Chronic Vein Condition, White House Confirms

OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation

The minister, whose message was delivered by one of the directors from the ministry, Mr. Tim Okon, said the Federal Government was pushing for diversification of its oil energy mix to reduce dependence on fossil fuel, as well as imported petroleum products and up its foreign exchange.

It will be recalled that Nigeria has over the years depended on fossil fuel as her source of energy and revenue, leaving out other sources.

He stressed that the renewable energy development initiative was designed to leverage on the nation’s immense agricultural potentials, with a view to creating a synergy with petroleum sector, by developing a biomass-based fuel economy for the country.

“Research has confirmed the reliability and acceptability of biofuels as a more environmentally-friendly option when compared with premium motor spirit (PMS).

“Biofuel is bound to make the country develop a low carbon economy and gradually reduce environmental pollution associated with fossil fuels so as to achieve our country’s commitment to global agreements under the Intended National Determined Contribution (INDC) projects, while at the same time create commercially viable and sustainable agro-industrial cluster across the country. It will equally provide the enabling environment for biomass co-generation of electric power and Great Green Wall (GGW) programmes may be practiced for the good of all Nigerians”, he added.

Speaking on the topic, Biofuels: Nigeria’s New Reality, an energy expert Mohammed Ibrahim, said: “renewable energy development in general and biofuel promotion in particular has the tendency to alter our national economy in a fundamental and sustainable manner.

“Biofuel production could be a catalyst for the commercialization and industrialization of Nigeria’s current subsistence agricultural and agro allied industry. This will provide an opportunity for Nigeria to enter the growing global biofuel export market and improve her balance of trade with other nations.

Earlier in his welcome address, the acting Executive Secretary of PPPRA, Mr. Victor Shidok said Nigeria could not afford to be left behind in ensuring the development of commercialization of biofuels as an alternative energy source at the time of gradual depletion of hydro-carbon base.

Mr. Shidok was of the opinion that, with the dissatisfaction of stakeholders with the existing gazette on biofuel policy which was import dependent and import driven which was rejected, a policy review which was now on-going and coordinated by the PPPRA was birthed.

Tags: BiofuelsFOREX
SendShareTweetShare
ReportersAtLarge

ReportersAtLarge

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

More

JAMB Registrar, Prof. Ish-aq Oloyede
News

Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions

by ReportersAtLarge
July 17, 2025
0

The Joint Admissions and Matriculation Board (JAMB) has flagged 9,469 admissions across 20 tertiary institutions in Nigeria in the 2024...

Read moreDetails
Donald Trump disqualified from the 2024 US Election
WorldNews

Donald Trump Suffering From Chronic Vein Condition, White House Confirms

by ReportersAtLarge
July 17, 2025
0

Donald Trump is suffering from a chronic vein condition, the White House announced on Thursday, after days of speculation regarding...

Read moreDetails
News

OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation

by ReportersAtLarge
July 17, 2025
0

A National Leader of the Oodua People's Congress (OPC), Comrade Adesina Akinpelu, has expressed his condolences to the people of Daura,...

Read moreDetails
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Governor Seyi Makinde of Oyo State Governor

Education Gets Highest Share As Makinde Presents N434.2bn 2024 Budget Proposal To Oyo Assembly

2 years ago
Mass Layoffs

The Right And Wrong Methods For Handling Mass Layoffs

2 years ago

Popular News

  • JAMB Registrar, Prof. Ish-aq Oloyede

    Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions

    0 shares
    Share 0 Tweet 0
  • Donald Trump Suffering From Chronic Vein Condition, White House Confirms

    0 shares
    Share 0 Tweet 0
  • Sean Dampte Addresses Low Voter Turnout in Lagos LG Elections

    0 shares
    Share 0 Tweet 0
  • OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation

    0 shares
    Share 0 Tweet 0
  • Why Traditional Institutions Must Be Integrated Into Nigeria’s Devt Systems – Makinde

    0 shares
    Share 0 Tweet 0

Connect with us

ADVERTISEMENT

About Us

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

With a high level of professionalism, fairness, objectivity, accuracy and speed, we publish Breaking News Nigeria Today Headlines and International news on Politics, Tourism and Travel, Entertainment, Sports, Business Lifestyle and Sports.

Category

  • Auto Trend
  • Breaking Bones
  • Business
  • Columns
  • Entertainment
  • Featured
  • For The Record
  • Health
  • Innovation
  • Lifestyle
  • Metro
  • News
  • Opinion
  • People & Events
  • Politics
  • Press Releases
  • Science & Technology
  • Sponsored
  • Sport
  • Tourism & Culture
  • Video
  • Video News
  • WorldNews

Recent Posts

  • Sean Dampte Addresses Low Voter Turnout in Lagos LG Elections July 18, 2025
  • Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions July 17, 2025
  • Donald Trump Suffering From Chronic Vein Condition, White House Confirms July 17, 2025
  • OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation July 17, 2025
  • Why Traditional Institutions Must Be Integrated Into Nigeria’s Devt Systems – Makinde July 16, 2025
February 2017
SMTWTFS
 1234
567891011
12131415161718
19202122232425
262728 
« Jan   Mar »
  • Home
  • News
  • Business
  • Politics
  • Tourism
  • Lifestyle
  • RAL TV
  • More

© 2016-2024 RAL - Guided by professionalism

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us

© 2016-2024 RAL - Guided by professionalism

Verified by MonsterInsights