Amotoi CEO, Amunaboye Clement, Calls for Legislative Action and Industry Collaboration to Drive Biofuels in Nigeria

Amotoi CEO, Amunaboye Clement Applauds FG’s Decision to Implement 2007 Biofuel Policy, Urges National Assembly Action

Amunaboye Clement, CEO of leading energy company Amotoi Global Services, is urging the Nigerian government to prioritize biofuel adoption as a key part of its national energy strategy.

Barr. Amunaboye Clement, a prominent business figure hailing from Bayelsa State and serving as the MD/CEO of leading energy company, Amotoi Global Services Limited, has emphasized the imperative for the Nigerian government to integrate biofuels into its energy strategy.

Addressing journalists at his office in Port Harcourt, Rivers State capital, on Monday, Barr. Clement underscored the potential benefits of biofuels. He highlighted their capacity to significantly reduce greenhouse gas emissions, counteract the effects of climate change, fortify energy security through diversifying fuel sources, and bolster the nation’s foreign exchange reserves.

Moreover, Barr. Clement asserted that embracing biofuels would yield numerous business opportunities, allure investors, diversify revenue streams for agricultural entrepreneurs, and spur rapid rural development by stimulating the cultivation of biofuel feedstocks.

While commending President Bola Tinubu’s administration for its recognition of the imperative to reinstate the 2007 Biofuel Policy & Incentives, Barr. Clement emphasized the urgency for the National Assembly to expedite the passage of the biofuels bill. This legislation aims to establish the Biofuels Energy Regulatory Commission and the Biofuels Research Agency, thereby furnishing the requisite legal and institutional frameworks to propel the biofuel energy industry forward.

“Nigeria, being the largest petrol importer in Africa and a net exporter of crude oil, stands to reap substantial benefits from transitioning to E10 and B20 blends,” Barr. Clement affirmed. He emphasized the potential economic gains that would accrue to various stakeholders, including marketers, distributors, and consumers, upon the implementation of the Biofuel Policy.

In addition, Barr. Clement called upon entities such as the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), energy marketers, Standard Organisation of Nigeria (SON), and relevant government ministries and agencies to collaborate effectively in nurturing the growth of the biofuel industry.

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Concluding his remarks, Clement stressed the necessity of establishing and managing a Nigerian biofuel pilot program and enhancing the country’s technological capacities in the renewable energy sector. He emphasized that such initiatives are vital steps toward realizing the full potential of biofuels and advancing Nigeria’s energy landscape into a more sustainable and prosperous future.