The Nigerian National Petroleum Corporation (NNPC) has disclosed its plans to launch an automotive Biofuels programme for Nigeria on Sugarcane Fuel Ethanol in the Kogi State of Nigeria.
Yahaya Bello, Kogi State Governor, on Thursday, July 7, got the delegation from the NNPC at the Lugard House of Lokoja.
The team, directed by Dr Fumilola Ale, GM of NNPC, told the Governor about the level of readiness to establish the NNPC Automotive Biofuels Programme for Nigeria named Sugarcane Fuel Ethanol Project at the Ike-Bunu located in the Kabba/Bunu local government area of Kogi State.
The agreement for the Biofuels factory to be launched in the state is a kind of tripartite investment in the NNPC Limited, CONTEC Global Energy Limited, and the Kogi State Government that was signed earlier in 2017.
The Governor has made a case on behalf of the host community also to have an equity share in the refinery, saying that compensation for land must not be the only take-home benefit of the host community.
He further said that by having a share in the company, the host community will get long-term benefits and will be more responsive towards securing the investment in their domain.
The investors are anticipated to move to the site as soon as possible.
Established in 1977, the Nigerian National Petroleum Corporation (NNPC) is the oil corporation via which the federal government of Nigeria regulates and takes part in the nation’s petroleum industry. The NNPC business operations are handled via Strategic Business and Corporate Services Units in various locations around Nigeria.