Nigeria’s Oil Minister Diezani Alison-Madueke (L) talks to reporters.
The Federal Government is considering a new biofuels development policy for a viable alternative to the continued dependence on imported petroleum products as fuels for energy supplies in the country.
A forum recently facilitated by the Petroleum Products Pricing Regulatory Agency (PPPRA) has already recommended the constitution of a technical committee to undertake a comprehensive review of the 2007 national biofuels policy, to remove all impediments to achieving the bio-fuels development initiative, and replace with a framework that will be more commercially friendly.
The Energy Commission of Nigeria (ECN) is expected to provide the necessary technical input to the deliberations, particularly concerning previous and ongoing biofuels initiatives, as well as the existing relationship between producers and foreign off-take partners from China and Singapore. This will also enable Nigeria gain access to the carbon credit available under the Clean Development Mechanism (CDM).
During a recent meeting in Abuja, attended by the Department of Petroleum Resources (DPR) and other government monitoring and regulatory agencies in the oil and gas industry, members observed that the provisions of the existing policy document were inadequate to help realise the national objective.
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