Dr Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), said on Wednesday that the company is investing in renewable energy to accelerate Nigeria’s industrial development.
Baru said at the ongoing 39th Kaduna International Trade Fair that the NNPC had set up Renewable Energy Division not only to develop solar and other renewable energy sources, but also develop bio-fuels from agricultural produce.
According to him, the multiplayer effects of such ventures include reviving the agricultural sector and generating huge employment.
“It will also contribute significantly to power generation, producing high volume of animal feed, starch and other by-products.
“Not only that, the bio-fuel will be blended to our refineries petroleum products, which will significantly reduce imports of petroleum products into the country.”
The NNPC boss said that decades ago, mining, agriculture and commerce sustained the economy of each region of the country before oil was discovered in the 70s.
He stressed that the feat achieved in the past, can be replicated if the nation re-channel the productive sector through holistic policy actions toward rebuilding infrastructure.
“Key infrastructure sector that needs to be tackled include electricity, transport, information and communication, roads, water and sanitation and rehabilitation of existing oil and gas pipelines facilities.
“It is my sincere belief that revitalising these critical infrastructure will promote efficiency in commerce, industry and agriculture.
“This will enable the nation’s entrepreneurs compete favourably with their peers across the globe, ” Baru said.
He commended the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA) for attracting discussions on opportunities for sustaining industrial growth, boosting commerce and agriculture for international competitiveness.
Also speaking, KADCCIMA President, Dr Muheeba Dankaka, thanked the NNPC for the years of partnership toward building a robust private sector.
Dankaka said that the Organised Private Sector was ready to partner with government agencies in building sustainable industrial sector through the exploitation of agriculture and the productive sector in general.