Connect with us

Business

Bio-Fuel: Expert Advises FG On Domestic Refining

Published

9 years ago

on

A bio-fuel practitioner, Mr Hussaini Solomon, has urged the Federal Government to adopt a policy to encourage the masses to take interest in refining bio-fuel to reduce dependence on petroleum products
Solomon, the Managing Director of the Biodiesel Nigeria Limited, told newsmen in Abuja last Monday that it was easy to establish bio-fuel refineries  because it did not require heavy machinery or intensive capital to start.
According to him,  every home in Nigeria can have a bio-fuel refinery,  thereby halting the over-dependence on petroleum products.
Solomon said Nigerians had no business being idle or unemployed.
Solomon said, “Every household can own a bio-fuel refinery. I have a farm in Dekina, Kogi State and the electricity is generated from my plants; from producing bio-fuels, power my farm and my whole community.
“The technology is not cumbersome; all that is required is policy, will of government and the private sector and we are good to go.
“We supply places like MTN and for years we’ve not had any complaints because another thing is that it burns slower.
“We can have resource control domiciled in each family in the country. It can be planted on 10 hectares and four million could be made every year for 50 years without replanting.’’
Solomon urged the millions of unemployed undergraduates and corps members in the nation to key into the project, saying “it is profitable and sustainable”.
Mrs Grace Ogolo, Managing Director, Cleantech Nigeria Initiative, also said that she had taken a good look at the draft policy on biofuel and was excited that it was gender-friendly.
“Since there is a large population of women farmers in the country, it will benefit women more. The policy is gender sensitive, creating opportunities for women to be part of it.
“Women should buy into it and not leave it like the oil and gas sector. Women can be refiners of bio-fuel.
“Bio-fuel is the next cash cow; it can boost income, especially for women and does not require complex or technical machinery,’’ Ogolo said.
The Acting Executive Secretary of the Petroleum Products Pricing Regulatory Agency, (PPPRA), Mr Victor Shidok, had said with right policies in place, Nigeria would begin production of bio-fuels to augment petrol imports.
Shidok said the policy was part of efforts to diversify Nigeria’s energy sources and respect global convention on climate change with the inclusion of alternative clean options.
“Biofuels simply comprise  bioethanol and biodiesel which are blends of petroleum products and agricultural products.
“Bioethanol, E-10 for instance, is a blend of 90 per cent gasoline and 10 per cent ethanol, while biodiesel B-20 is a blend of 80 per cent diesel and 20 per cent oil from Jathropha, used palm oil,” he said.
Shidok said when production would begin, the agency would demand that for every litre of petrol sold, 10 per cent of ethanol would be added to it and 20 per cent of oil from Jathropha or used palm oil to diesel.

Related Topics:
Continue Reading

Business

Boat Mishap Kills Pastor, Wife And Church Members  In Brass Water

Published

6 days ago

on

May 18, 2026

By

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways
The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and  members of his church were in a programme.
?
?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet  to be recovered
as search party are still ongoing.
Although the real cause of the boat Mishap is not yet known as at the time of this report,  our Correspondent gathered  that the identities of the Pastor, wife and church members were not disclosed to the public.
The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit
The Bayelsa State government and the state police command are yet to issue official statement’s  on the sad accident
By: CHINEDU WOSU
Continue Reading

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

6 days ago

on

May 18, 2026

By

The Rivers State Council of  Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.
Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt,  recently.
Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.
He noted that  the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.
According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.
He also  informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.
“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.
Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.
The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.
He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.
Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.
The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.
He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.
Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.
By: King Onunwor
Continue Reading

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

2 weeks ago

on

May 13, 2026

By

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.
 Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.
According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.
“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.
The minister noted  the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.
According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.
Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.
“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.
He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.
“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.
Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.
“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.
“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.
Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.
She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.
Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).
“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.
“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.
Continue Reading

Trending