Tag Archive | "Ethanol"

INVESTMENT: Capitalise on Significant Demand For Ethanol

Region Kwara Nigeria

Sector Agriculture & Agri-processing, Energy

Summary: Foreign and local investors have the opportunity to invest in the production of ethanol in Kwara State, situated in central Nigeria.

Foreign and local investors have the opportunity to invest in the production of ethanol in Kwara State, situated in central Nigeria.

Investment Opportunity

Cassava, an edible starchy tuberous root, is grown in large quantities across Kwara State and well suited for the production of ethanol. Ethanol is generally produced by the fermentation of sugar, cellulose, or converted starch. Apart from food and pharmaceutical uses, ethanol is finding itself alternative use for biofuel in most of the developed world.

Investors looking to process cassava into ethanol can either cultivate their own crops or buy from local farmers. Many of the ‘new Nigerian farmers’ from Zimbabwe are currently involved in the commercial cultivation of cassava. Alternatively the oil from the seeds of the Jatropha plant can also be used for ethanol production. Kwara State’s climate and soil is conducive for the growing of Jatropha.

The federal government has introduced Nigeria’s Biofuel Production Programme to establish a thriving a fuel ethanol industry by utilising agricultural products. A number of incentives have been introduced to stimulate Nigeria’s biofuel industry. These include:
# Pioneer Status All registered businesses engaged in activities related to biofuels production and/or the production of feedstock for the purpose of biofuel production and co-generation within the country shall be accorded Pioneer Status within the provisions of the Industrial Development (Income Tax Relief) Act.
# Withholding tax on interest, dividends, etc.
# Waiver on import and customs duties
# Waiver on Value Added Tax Biofuel companies that are involved in the production of biofuels feedstock; or the production of biofuels and/or the generation of electricity from biomass shall be exempted from payment of Value Added Taxes on all products and services consumed by them.
# Long term preferential loans

Reasons to Invest in Kwara State

Incentives: The Kwara State Government is willing to extend a number of incentives to serious investors. These include the provision of land and infrastructure, tax holidays and assistance with obtaining financing.

Labour: Kwara State is home to the well-respected University of Ilorin and construction of the new Kwara State University will soon be completed. Kwara State therefore has a large number of graduates who can be employed by companies investing in the state.

Cargo terminal: A new cargo terminal at the Ilorin International Airport will soon be completed and will allow for goods to be transported via air, both locally and internationally.

Power supply: Due to the recent completion of the Ganmo sub-station, the state capital, Ilorin, currently enjoys very close to 24 hours a day of uninterrupted power supply. Many business owners are delighted by the fact that they have to make very little use of generators.

Political will: The government of Kwara State is devoted to creating an enabling environment for business and investment. The state is also committed to continuity of policies which will ensure that an investor friendly environment remains even after the end of the current administration’s tenure.

Investment insurance: Nigeria is a member of MIGA (Multilateral Investment Guarantee Agency) and the ICSD (International Centre for Settlement of Investment Disputes). Potential investors are therefore insured against a wide range of non-commercial risks.

Contact Details Investors interested in this project should contact Fela Ibidapo, Special Assistant to the Executive Governor, Kwara State (Investments) at felaibidapo@gmai

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