The Federal Government (FG) said it is targeting the use of its Bioeconomy policy to drive inclusive economic growth, wealth creation, employment generation and sustainable poverty reduction in the country.
Permanent Secretary, Federal Ministry of Finance, Budget and National Planning (FMFBNP) Prof. Nebeolisa Anako stated this in Keffi Local Government Area of Nasarawa state on Tuesday.
Anako represented by Dr Lanre Adekanye, Director, International Cooperation Department, FMFBNP (Budget and National Planning Arm) made the remarks at a North Central Regional Awareness and Sensitisation Workshop on Bioeconomy, Employment and Inclusive Growth Using Cassava Bio-Ethanol Value Chain Development Programme Pilot.
The theme of the workshop is “Knowledge Transfer: Cassava and Bio-Ethanol Value Chain.”
According to Anako, one of the aspirations of the FG is to bring about higher Gross Domestic Product (GDP) growth and to significantly reduce unemployment by creating meaningful opportunities for the youth in the country with Bioeconomy as a viable option.
He explained that the Bioeconomy policy aims at promoting sustainable and inclusive economic growth and development by creating a bio-based economy that would contribute to job creation, poverty reduction, and increased access to food and energy.
“The country, at this time, needs an approach that will increase food production, youth employment, and increased growth through the provision of industrial feedstock and exportable products to boost our economy.
“To achieve this, one strategic pathway is to develop the cassava bioethanol value chain.
“I would like to thank stakeholders from relevant Federal Ministries, Department and Agencies (MDAs) for their collaboration and enduring partnership thus far in developing the Bio-economy Policy, which is a ministerial deliverable that was captured in the National Development Plan (NDP) 2021 – 2025,” he said.
He noted that the development of the bioeconomy value chain was a veritable pathway to assuage the economic impacts of the removal of the subsidy on petroleum products on citizens and for sustained development,” he said.
In his remarks, Vice Chancellor, Nasarawa State University, Keffi, Prof. Suleiman Bala-Mohammed, said the workshop was apt as its theme reflected the pressing need to harness the power of Bioeconomy, particularly in the context of the North Central region.
“North Central Nigeria has a rich agricultural heritage and cassava stands as one of our most vital and versatile crops.
“It is crucial that we capitalise on these resources to unlock economic opportunities, create jobs and foster inclusive growth.
“The cassava-bioethanol value chain holds tremendous promise in this regard as it integrates various sectors from agriculture to energy and entrepreneurship,” he said.
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Also, Prof. Ken Ife, Managing Director of Biosources and Technologies Limited, the keynote speaker at the workshop, described Bioeconomy as the knowledge-based production and use of molecular biology of plant and animal origin and processes to create a wide range of products across all sectors of the economy.
He said the huge potential in cassava made it a natural choice to start the implementation of the Bioeconomy policy with the partnership of the academia, research and development institutes, farmers, private sector, government MDAs, the civil society, development partners and development finance institutions.