Achieving Sustainable Energy Growth Through the Development and Adoption of Biofuels Technology in Nigeria for Enhanced Productivity

Abstract

Development and adoption of biofuels holds a diversity of opportunities and potentials for the Nigerian economy. Therefore, the quest for biofuels in Nigeria should in no doubt represent a legitimate ambition. This is so because the focus on biofuel production has assumed a global dimension and the benefits that may accrue from such effort may turn out to be enormous if the precondition is adequately satisfied. One of the benefits is access to clean modern energy services which is an enormous challenge facing the African
continent because energy is fundamental for socioeconomic development and poverty eradication. Today, 60% to 70% of the Nigerian population does not have regular supply of electricity and petroleum products. There is no doubt that the present power crisis affecting Nigeria will persist unless the government diversifies the energy sources in domestic, commercial, and industrial sectors and adopts biofuel technologies to reduce energy wastages and to save cost. The research adopted descriptive statistics and
utilize secondary sources of data and important literatures. It also reviewed a set of energy policy interventions, which can make a major contribution to the sustainable economic development, environmental factors and how they affect availability of energy crops and social development of Africa's most populated country, Nigeria. Adoption of biofuel technology will increase energy efficiency and leads to important social benefits, such as reducing the energy bills for poor households. From an economic point
of view, implementing the country's biofuels energy target will have significant costs reduction and clean energy and will help the country to tackle greenhouse gas emissions.