NNPC signs MoU with Ondo to build multi-billion ethanol plant

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The Nigerian National Petroleum Corporation, NNPC, on Tuesday signed a Memorandum of Understanding with the Ondo state government to establish an ethanol plant at Okeluse, Ose Local Government, Area of the State.

Speaking at the signing ceremony of the MoU in Abuja, Ondo state governor, Mr. Oluwarotimi Akeredolu said he was happy that the NNPC gave the ethanol plant a priority, as presented to it by his administration.

According to the governor, it was heartwarming for him that the largest cassava based ethanol plant in Africa will take off soon in Ondo State, with a multiplier effects of providing about one million jobs for Nigerians.

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Mr. Akeredolu used the occasion to assure investors willing to invest in the state of his administration's sincere commitment to providing the best of business environment to guarantee productive returns on their investments.

The state Commissioner for Commerce, Industries and Cooperatives, Otunba Timilehin Adelegbe, described the feat as a landmark achievement for the Akeredolu-led administration and for the people of Okeluse.

"It is a Plant that produces Bio-fuel for NNPC use and comes with a lot of direct realities.

"If the Plant begins operation, it would be producing billions dollars of Ethanol that would be enough to serve the country and for export," he said.

The commissioner added that 15,000 hectares of land would be set aside for Cassava plantation, saying it would be the largest, not only in Nigeria but in Africa.

On when the project will take off, Otunba Adelegbe said: "after the signing of the MoU, a steering committee will be constituted that will begin the implementation of the Planting of cassava in few months after job will commence fully."

Earlier, the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, hinted that after the installation of the Plant, the project would employ over one million Nigerians, both direct and indirect employment.

The Secretary to the Ondo State Government (SSG), Hon Ifedayo Abegunde, signed on behalf of the state, while the GMD signed on behalf of NNPC.

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