The Federal Government has said Nigeria could save more than 3 trillion naira each year in foreign exchange by blending ethanol with Premium Motor Spirit (PMS).

 This is aimed at cutting the country’s dependence on imported fuel and strengthening domestic agricultural and industrial value chains.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, who was represented by the Director of Economic Growth in the ministry, Mr. Auwal Mohammed, stated this at a capacity-building workshop for stakeholders on the Cassava Bioethanol Value Chain Development Project for the South East zone, held in Enugu State.

According to Bagudu, the proposed shift toward domestically produced bioethanol would place millions of smallholder farmers at the centre of a new growth strategy for the cassava sector, noting that the government had begun steps to empower about 14 million farmers to play key roles across the cassava value chain.

He added that the initiative aligns with the national Bio-Economy Policy, which seeks to move beyond simple production and consumption of ethanol toward a broader circular economy model.

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