The National Palm Produce Association of Nigeria (NPPAN) has announced that the Federal Government is poised to sign a pivotal Memorandum of Understanding (MoU) with the Malaysian Government marking a significant stride in the development of palm biomass in Nigeria.
The plan is expected to be consummated by June 2024.
Amb. Alphosus Inyang, the President of NPPAN, shared this information during an interview with the News Agency of Nigeria (NAN) in Abuja.
Biomass is agricultural waste, representing an untapped resource with vast economic potential. The focus is on transforming this waste into wealth. NPPAN is strategically collaborating with its Malaysian counterparts to replicate the success of Malaysia’s palm biomass industry in Nigeria.
Inyang highlighted the immense economic impact that the development of palm biomass could bring to Nigeria. Projections include a potential $10 billion contribution to the national Gross Domestic Product (GDP) within four years, coupled with the generation of over five million jobs in five years.
He emphasised Nigeria’s substantial annual generation of agricultural waste and emphasized that the MoU would enable the country to harness these waste materials for various industrial purposes.
The potential applications of palm biomass are diverse and include the production of industrial goods, electricity generation, medicine, fertilizer, and more and has potential for carbon credit gains, forest preservation, conservation efforts, and job creation.
NPPAN is actively engaged with the Federal Ministry of Industry, Trade and Investment to develop a comprehensive National Biomass Master Plan for Nigeria.