Considering the monetary benefit of the product, the local price of a 25-litre gallon of palm oil ranges from 18,000 naira to 25,000 naira. On the other hand, in the global market, in 2021, one metric tonne of palm oil sold for $975, equivalent to over N400,000. Requirements For Setting Up A Palm Oil Mill In Nigeria
Why do we need a large-scale biofuel production in Nigeria?
Dangerous environmental consequences and market unpredictability of fossil fuels have necessitated the need for sustainable large-scale production of biofuel in Nigeria. Unrefined palm oil (UPO) is a significant product of commercially available oil palm plants in the country.
Can Nigeria expand its Bioresources?
With vast arable land across Nigeria, the capacity for expanding its bioresources is feasible ( Oyedepo et al., 2019 ). Direct comparative analysis has shown that the Nigerian oil palm industry has the prospect of producing biofuels commercially ( Ishola et al., 2013 ).
Are biodiesel feedstocks viable in Nigeria?
Experimentation and continuous research are enabling the development of viable biodiesel feedstocks and suitable production procedures ( Abbaszaadeh et al., 2012 ). With vast arable land across Nigeria, the capacity for expanding its bioresources is feasible ( Oyedepo et al., 2019 ).