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FG Urges Use Of Bio-Fuel
The Federal Government has urged Nigerians to embrace the concept of developing bio-fuels for everyday use to reduce over-dependence on imports of petroleum products.
Minister of State for Petroleum Resources,Dr Ibe Kachikwu, gave the advice in Abuja at a sensitisation workshop, organised by the Petroleum Products Pricing Regulatory Agency (PPPRA), on Bio-fuel Development in Nigeria.
A bio-fuel is produced through contemporary biological processes such as agriculture and anaerobic digestion and is embraced world over for uses such as electricity generation, energy alternatives.
Kachikwu, who was represented by his Special Adviser on Fiscal Strategy, Dr Tim Okon, said in the quest for renewable energy sources, advantages of bio-fuels were many.
“This workshop is expected to further enlighten Nigerians on the economic, environmental, agricultural and social benefits of bio-fuels as a player in a world that is fast embracing effective and efficient energy mix.
“You will recall the resolve of this administration to diversify the economy and reduce our dependence on fossil fuel and imported petroleum products.
“Such a determination calls for greater urgency now, going by the dwindling prices of crude oil; time has come for us to explore alternative energy and revenue resources with the abundance of land at our disposal.
“I believe bio-fuel will soon become our foreign exchange earner, if we can apply both our minds and might to it,’’ Kachikwu said.
He said the nation could produce crude and fire gas but the only way to “reach every nook and cranny and every citizen was to look towards natural resources like solar, wind, water and bio-fuel.’’
The Acting Executive Secretary of the PPPRA, Mr Victor Shidok, said an existing policy on bio-fuel was rejected by stakeholders because it was import-dependent and import-driven.
“The gazette, which was roundly rejected by all stakeholders, necessitated a policy review which is now ongoing and coordinated by the PPPRA.
“Let me affirm that PPPRA is well aware of the immense socio-economic benefits derivable from domestic production of bio-fuels.
“We dare say that the expected increase in agricultural activities is bound to translate to enormous job creation and contribute to the nation’s gross domestic product growth.’’
He said policies such as these were bound to succeed only with stakeholders support and people’s interest.
Stakeholders, who spoke at the event, all agreed that benefits of bio-fuels far outweighed the disadvantages and encouraged the Federal Government to be proactive in ensuring a workable policy.
Mrs Omolade Esan, Principal Engineer, Pollution and Waste Control Management Unit, National Biotechnology Development Agency, told newsmen that every Nigerian could generate power from home.
“It is not cumbersome, once you can get your waste and you refine it, you can power your generator and even cook with it.
“The flame the gas produces is blue. This alternative energy source is cleaner, cheaper, healthier, safer, more convenient and environmental friendly,’’ Esan said.
The workshop had the theme: “Nigeria’s New Economy.’’
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BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
