The Federal Government is about to sign a crucial Memorandum of Understanding (MoU) with the Malaysian Government, which would be a major step forward in advancing the development of palm biomass in Nigeria, according to the National Palm Produce Association of Nigeria (NPPAN).

This information was provided by the President of  National Palm Produce Association of Nigeria NPPAN, Amb. Alphosus Inyang in an interview conducted in Abuja with the News Agency of Nigeria (NAN).

Biomass is a waste product from agriculture that has enormous economic potential but is currently underutilized. The goal is to turn this waste into money.

In an effort to duplicate the prosperity of Malaysia’s palm biomass sector in Nigeria, NPPAN is strategically working with its counterparts in Malaysia.

Inyang emphasized the enormous economic benefits that Nigeria may experience from the growth of palm biomass. Forecasts indicate that the country’s Gross Domestic Product (GDP) might gain $10 billion in four years, and that more than five million jobs could be created in five years.

He underlined how much farm waste Nigeria produces each year and how the MoU will allow the nation to use these wastes for a variety of industrial uses.

Biomass from palm trees has a wide range of possible uses, such as manufacturing industrial products, generating power, producing medication, fertilizer, and more.

By mentioning the possibility of earning carbon credits, forest preservation, conservation initiatives, and employment development, Inyang brought attention to the environmental advantages.

He underlined that the palm tree offers Nigeria a largely untapped resource due to its 90% biomass and 10% composition of palm oil.

In order to create a thorough National Biomass Master Plan for Nigeria, NPPAN is actively working with the Federal Ministry of Industry, Trade, and Investment to bring about the actualization of this goal.

This strategy, which should be completed by June, would act as the fundamental policy blueprint directing the nation’s efforts to implement palm biomass projects. Inyang made a plea to the Ministry of Industry to help hasten the creation of this crucial master plan, which will likely set the path for Nigeria’s sustainable use of its palm biomass resources.