By UDEME CLEMENT

Global Biofuels Limited, the first Biofuel Refinery in Nigeria, in collaboration with its financial advisors has concluded arrangements for the implementation of a Clean Development Mechanism (CDM) project titled, Grow Your Energy (GYE).  Upon completion, the project would generate 30mega watts (WM) of electric power from biomass co-generation ancillary.

This is in addition to producing 240KLDP fuel grade ethanol, lots of grain and 5,000 head of cattle per annum. It will also remove millions of tons of greenhouse gases from the atmosphere and thus become a veritable tool for climate change mitigation in Nigeria .

The Group Managing Director of the company, Dr. Felix Obada, said this at the briefing.

He added:  “The promoters of the project and their consultants are at the stage of preparing the Project Design Document (PDD) for the Host Country’s Approval (HCA) and are therefore organising a Stakeholders’ Consultative Forum (SCF), at various locations across the country, with a view to satisfying one of the basic requirements of UNFCCC, while at the same time learning about any present or future concerns that may be lurking in the minds of stakeholders concerning any aspects of the project.

“The forum is therefore an opportunity for stakeholders to bare their minds on any grey areas of the project.  While the promoters, plant designers and original equipment manufacturers will be on hand to answer questions. Topics for discussion during SCF will include project description, profile of the owners/consultants, key success factor, adopted technology, choice of raw materials, end products and marketing. Others include sustainability criteria, clean development mechanism, forecasted emission reduction, environmental and Socio-economic Impact”, he said.

The forum will be staged in three locations such as, Monday Sept 19, at Nexim House Abuja. The target audience  for this segment will include, The Presidency, ministries departments and agencies of government , including the Federal Ministry of Environment and the DNA’s office. The Nigerian National Petroleum Corporation (NNPC), Project Financial Advisors,  women groups, students and the media. On Wednesday Sept 21, at Ilemeso, Ekiti, This segment will be targeted mainly at the indigenes of Ilemeso and all the surrounding communities. On Thursday Sept 22, 2011 at Ado Ekiti.  This is the capital of Ekiti State and the seat of the host government, the target audience will therefore consist of civil servants, the business community, market men/women and students.

Meanwhile, Obada is hailing the decision of CBN and some banks to prepare and activate a set of sustainable principles that restrict lending to businesses whose operations pollute the environment and contribute to the devastating effects of global warming.  “It was a well thought-out initiative and I commend the effort of the governor of CBN, Lamido Sanusi and other banks focusing on green economy in Nigeria ”, he stressed.

Obada posited that adherence to such basic lending principles would stimulate growth of the green energy sub-sector of the economy, in addition to assisting Nigeria to reduce its carbon footprint. “It does not make sense for any Nigerian bank or any bank anywhere in the world for that matter to lend money to businesses that contribute to the destruction of our environment.  Until only recently, nearly 90 per cent of bank lending went to fossil oil sector of the economy, a fact that has contributed to the dearth of green energy businesses in Nigeria .

He added: “The global environment has been polluted by greenhouse gases and particulate matters constantly emitted by industrial concerns that care little about standards. These gases deplete the ozone layer and manifest in severe conditions such as droughts, desertification, flooding, land-slide, excessive temperatures (both hot and cold). Unless such organisations are deliberately denied credit, those conditions may rapidly and even escalate to the point the planet earth may be unable to support life”.

The banks under a new lending principle signed in Lagos recently included Access bank Plc, Citibank Nigeria limited, Diamond bank Plc, First bank of Nigeria plc, Guarantee Trust bank Plc, Stanbic IBTC, Standard Chartered bank and Zenith Bank Plc. The new lending standard aims at preventing loans to businesses, which activities wreck the ecosystem, especially oil companies, which failed to meet local and international safe environmental standards in their operations.

Our investigations revealed that Global Biofuels is in the forefront of developing green economy in Nigeria. The company is currently embarking on  biofuels project aims at creating over 406,000 jobs in over seven states.

like, Ekiti, Ondo, Osun, Kwara, Kogi, Kaduna and Oyo. The project when fully executed would create 58,000 jobs, that is 50,000 direct and 8,000 indirect employments in each State, generate electricity for host communities and ensure infrastructure development in such communities.