The concessioning of the cassava bio-ethanol value chain by the Nigerian government aims to generate N180 billion in five years.
The FEC approval on Wednesday indicated that the project also aims to provide jobs, reduce poverty, improve food security, and provide renewable energy to reduce carbon footprint with the assistance of agriculture research institutions across the country, according to Infrastructure Concession and Regulatory Commission, or ICRC.
The Executive Council also authorised the National Fire Detection and Alarm System (NAFDAS) to prevent, detect, and manage fires nationwide.
Both ICRC-regulated projects want 180 billion naira in income.
The 5-year Cassava Bio-ethanol Value Chain will produce 105 billion naira, while the 15-year NAFDAS project would yield 75 billion.
It was emphasised that a Bio-technology Industrial Park will be established on a 20-hectare plot spanning 20 Universities, Academia, and Research & Development Centers as part of a pilot project for the cassava bio-ethanol value chain.
5,000 excellent hybrid cassava (TME 419) stems will be planted per acre during the pilot phase (100,000 stems for 20 hectares). Additionally, organic fertilisers, boosters, conditions, pre- and post-emergent herbicides, pesticides, insecticides, fungicides, and backpack sprayers will be made available for the project.
With better tropical agroecology, biotechnology, rigorous mechanisation, and effective partnership resource mobilisation, Nigeria can quadruple cassava production from 62 million tonnes to 120 million tonnes in five years.
This cassava-bioethanol pilot project aims to show that a private sector-led strategy to boosting renewable biomass investment creates income, jobs, reduces poverty, improves food security and nutrition, provides renewable energy, and reduces carbon footprint.
Federal and concessionaire investment of N11.9bn will fund the project. The initiative sells cassava stem, flour, garri, starch, and bio-ethanol.
The 5-year concession revenue is N105,610,000,000.
The NAFDAS project will link fire mitigation technology, software, and equipment to a cloud network monitored by the Federal Fire Service through a private firm.
This system will automate fire call and response time, preventing needless occurrences, saving lives and property, and enhancing fire prevention, detection, and management.
Smoke alarms and other fire detection gear will be linked to a server to warn the system when the user is in difficulty without having to ask for help.
The idea will pilot in 7 states before expanding to all 50.
The project would cost N3.5 billion and generate N75 billion in income throughout the 15-year concession.
The government was anticipated to get N17,262,850,871 or 40% of subscription income (an average of N1,150,856,724 over the 15-year proposed concession period).
The project’s funding comes from installations and annual subscription payments.
The concession agreement divides money between the Federal Government and the concessionaire, and ICRC regulates both projects.
