The Nigerian National Petroleum Company Limited (NNPC Ltd) said Wednesday it is set to partner with the U.S Grains Council on ethanol production.
The oil firm said this in a statement posted via its official X platform on Wednesday.
“Earlier today, the Group Chief Executive Officer of NNPC Ltd, Mele Kyari played host to the U.S Grains Council in Abuja, Nigeria.
“During the visit, both parties explored areas of collaboration towards growing Nigeria’s ethanol production in line with sustainability principles,” the NNPC Ltd said.
It said the NNPC Ltd team was led by the Executive Vice President, Downstream, Dapo Segun (who represented the Group Chief Executive Officer), while the U.S delegation was led by the President/ CEO of the U.S Grains Council, Ryan LeGrand.
Ethanol, an alternative fuel, is made from cellulosic feedstocks, such as crop residues and wood.
Acknowledging the partnership in a statement posted via his X handle on Thursday, Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), said: “In my discussions with the U.S Grains Council, I acknowledged their interest in partnering with our nation on ethanol production a prospect I deemed highly favourable as it aligns seamlessly with our commitment to locally produce and export, bolstering our currency’s value.”
Mr Lokpobiri said with the ongoing rehabilitation of three government-owned refineries, coupled with the development of modular refineries and the Dangote Refinery, the nation possesses ample capacity to accommodate their proposal.
“The Renewed Hope administration, under President Bola Ahmed Tinubu, stands as an investment-friendly regime, unwavering in its dedication to fostering an enabling environment for investors.
“This collaboration not only marks a strategic alliance but reinforces our pursuit of economic self-sufficiency and prosperity,” he said.