Cassava bioethanol project to save Nigeria over N3trn annually – Shettima

Vice President, Senator Kashim Shettima, has said that the Cassava Bioethanol Project will save Nigeria over N3 trillion annually from imported fuels and ethanol derivatives. Shettima said this in a keynote address to mark the Day at the Banquet Hall of the Presidential Villa, Abuja, while stressing that it is a day for setting a new agenda for cassava, which it aligns with the Renewed Hope economic vision, builds on international partnerships, and is grounded in domestic transformation. He also assured that Nigeria would not be just occupying number one cassava producing nation of the world but will translate that into “jobs, foreign exchange, industrial development, and greater national food and energy security.” Meanwhile, he said marking the World Cassava Day 2025, every stakeholder is expected to come up “with more clarity of purpose and a firm commitment to action as the cassava subsector requires disciplined execution, transparent coordination, and consistent delivery, and made it clear that, “Our success will not be measured by intentions, but by outcomes that improve productivity, expand markets, and uplift communities. I am confident that the decisions taken here will move us from dialogue to action and from ambition to lasting results.”
He said the Tinubu-led administration is committed to empowering the youth and “it is not an afterthought in our cassava strategy; it is a core driver of its future. Agricultural transformation at scale will only be possible if we intentionally harness the energy, creativity, and technological acumen of young Nigerians. Just as youth-led innovation has reshaped sectors like fintech and digital commerce, we believe agritech holds the same disruptive potential.” According him, the administration is investing in the infrastructure, training systems, and enterprise models that enable young entrepreneurs to build viable agribusinesses with national and global relevance.  He said this vision is “backed by targeted interventions through the Bank of Agriculture, the Bank of Industry, and the National Agricultural Development Fund, which are expanding access to finance, training, and digital tools for smallholder farmers and agri-entrepreneurs.”
“As part of this commitment, the Federal Government is taking deliberate steps to unlock the potential of cassava through improved access to finance, de-risked investment, and accelerated enterprise development. Institutions such as the Bank of Agriculture, the Bank of Industry, and the Nigeria Agribusiness Development Fund are supporting these efforts and helping to position cassava as a priority sector for inclusive growth.
We gather here not only to reflect on our progress but to redefine the next chapter of growth and innovation for the cassava sector in Nigeria and as well West Africa and Africa in general.  We are also proud to host the Youth Changemaker Pitch Competition—giving young Nigerians the platform to share scalable ideas that can strengthen cassava production, processing, and trade. Through these conversations and collaborations, we are building shared ownership of the cassava agenda.
“For generations, cassava has been a symbol of resilience and food security across Nigeria. It is now time to elevate its role as a driver of economic growth and industrial transformation. Let today serve as a turning point in our collective efforts to build a globally competitive cassava sector—one that benefits every actor from the farm to the factory.  Kabir Shagaya of Cavista Holdings, a company who was one of the sponsors of this year’s celebration in a remark while acknowledging support for the private sector by the Vice President disclosed that, “We have also committed $150 million to support smallholder farmers through a structured offtake system with the Ekiti State Government. This was signed at the U.S.-Africa Summit in Dallas in 2024.”