What is the future of the Ethanol Industry in Nigeria?
The future of the industry in Nigeria is very bright. As a signatory to the Kyoto Agreement, the Country needs to produce 1.095billion litres of Fuel Ethanol per annum to meet its E10 mandate in view of the Country’s current annual consumption of 10.95billion litres of gasoline. This is apart from the derived demand of the surrounding West African Countries. As usual, the entire West African Region will therefore be looking up to Nigeria to serve as leader and hub for the development of the Renewable Energy Sector within the Region. Thanks to the abundant rainfall and suitable arable land in the Country. Government is also giving support and encouragement to participants in the sector. The Federal Government’s Gazette on the Biofuels Industry contains several incentives such as Import Duty Waiver, Tax Holidays, Exemptions from Income Tax on Investment Incomes by Investors, Pioneer Status, etc. In view of available demand and the government support already in place, the environment and
