Ogun-Osun River Basin and NNPC Biofuels Launch €256M Plant

The Ogun-Osun River Basin Development Authority and 3D NNPC Biofuels Limited signed a Memorandum of Understanding for the establishment of a €256 million bioethanol plant in Itokin, Lagos State, on Tuesday in Abeokuta, Ogun State. The agreement includes the cultivation of cassava on 15,000 hectares across Lagos, Ogun, Osun, and Oyo states.

The Ogun-Osun River Basin Development Authority will provide 200 hectares of land at the Itokin site and additional land for cassava cultivation. Adedeji Ashiru, Managing Director and CEO of the Authority, stated that the project would enhance Nigeria's energy and food security, support industrialization, and create over 100,000 jobs.

The partnership will see the Authority provide land, water resources, and community support, while 3D NNPC Biofuels Limited will supply technical expertise and funding. The bioethanol produced will be blended with Premium Motor Spirit, contributing to reducing carbon emissions and conserving foreign exchange spent on fuel imports.