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    ALMOND 94.3 FM Ibadan

News

Ogun-Osun River Basin, NNPC Biofuels Sign MoU for €256m Bioethanol Plant

today29/09/2026 1

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The Ogun-Osun River Basin Development Authority and 3D NNPC Biofuels Limited have signed an MoU for the establishment of a €256 million bioethanol plant in Itokin, Lagos State.

Under the agreement, the authority will provide 200 hectares of land for the plant and make available 15,000 hectares across Lagos, Ogun, Osun and Oyo states for large-scale cassava cultivation to supply the facility.

The plant will produce renewable bioethanol for blending with petrol, while the project is expected to support cassava farming, create jobs and reduce reliance on imported fuel. NNPC holds a 25 per cent stake in the joint venture.

The partners said work on the project is expected to begin soon, with plans to formally commence the project before the end of the year.

Written by: Adeola Akinbade

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