Jathropha: FG signs $2.5bn deal with Malaysian firm

The Federal Government, in a bid to explore alternative sources of fuel, has signed a $2.5bn pact with a Malaysian company, Bionas Agropolitants Technology Corridor Development, to grow jatropha in Nigeria.    The jatropha value chain would be facilitated by the Ministry of Environment through the National Agency for Great Green Wall in collaboration with Bionas […]

The Federal Government, in a bid to explore alternative sources of fuel, has signed a $2.5bn pact with a Malaysian company, Bionas Agropolitants Technology Corridor Development, to grow jatropha in Nigeria.  

 The jatropha value chain would be facilitated by the Ministry of Environment through the National Agency for Great Green Wall in collaboration with Bionas as the key investor that are working on renewable energy projects particularly converting jatropha to bio-fuel.  

 The Minister of State for Environment, Ibrahim Usman Jibril, speaking at the signing ceremony, said investment in renewable energy like solar, hydro and other alternatives like bio-fuel that would be generated through agricultural products like jatropha is the ministry’s key interest with Bionas.  

 “We believe that something good will come out of the association and whoever tries to bring value to Nigeria by way of investment that will make a difference in people’s lives, will always be welcome if the investments and interventions will come from legitimate resources,” he said.

 Jibril noted that the project is an indication that the ministry is committed to ensuring sustainable clean environment that would be free from pollution as a result of human activities. 

 While assuring of the Federal Government’s cooperation towards the success of the project, he said the exercise would be carried out in an open and transparent manner. 

The minister also enjoined Bionas to assist in training and retraining of Nigerians, hoping that the knowledge and technology transfer would be beneficial to both parties.

In his remark, the Director General of NAGGW, Ahmed Goni, noted that Nigerian farmers would fully participate in the jatropha value chain, saying, it is in line with the Federal Government policy to reduce overdependence on oil, stressing that “our oil contains some percentage of bio-fuel.” 

Goni said government agencies like NNPC, CBN and Ministry of Agriculture are involved in the project.

 The Group Chief Executive Officer of Bionas Worldwide, Ms Zurina Amnan, said that Bionas is committed to the project and looked forward to good working relationship with the Nigerian government.