Amotoi CEO Lauds FG For Decision To Implement 2007 Biofuel Policy
…Urges NASS To Pass Biofuel Bill
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, made this known on Monday while speaking with journalists at his office in Port Harcourt.
According to him, “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 added 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.
Clement however urged the National Assembly to expedite the passage of the biofuels bill seeking to establish the Biofuels Energy Regulatory Commission and the Biofuels Research Agency.
“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,” the statement concluded.
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