 Abuja, Feb. 21, 2024 – The Federal Government is to sign a Memorandum of Understanding (MoU) with Malaysia on development of palm biomass.
Alphosus Inyang, the President of the National Palm Produce Association of Nigeria (NPPAN), disclosed this in Abuja on Wednesday.
Biomass is an agricultural waste with vast economic potential.
Inyang said the aim of the MOU is to transform the waste into wealth.
He said NPPAN would collaborate with its Malaysia to replicate the success of Malaysia’s palm biomass industry in Nigeria.
Inyang said biomass would impact positively on economic development in Nigeria with potential to contribute about $10 billion to the National Gross Domestic Product (GDP) in four years and generate over five million jobs in five years.
He said the MoU would enable the country to harness these waste materials for various industrial purposes.
Inyang said that palm biomass could be applied in the production of industrial goods, electricity generation, medicine, fertilizer, and more.
He also said biomass had potential for carbon credit gains, forest preservation, conservation efforts, and job creation.
Inyang said NPPAN would engage the Federal Ministry of Industry, Trade and Investment to develop a comprehensive National Biomass Master Plan for Nigeria.
He said the plan, expected to be finalised by June, would serve as a foundational policy document for the implementation of palm biomass initiatives in the country.
Inyang appealed to the Ministry of Industry to play a facilitating role in expediting the development of this critical master plan. (GBN)
