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Nigeria: Oguta Lake Amishi Ventures collaborates with US firm for $50 million investment in biodiesel plant

Oguta Lake Amishi Ventures (OLAMV), in partnership with Global Green Bioenergy Limited from California, USA, has finalized plans to establish a Jatropha Curcas plantation covering approximately 15 hectares along the banks of Oguta Lake in Oguta Local Government Area of Imo State. This initiative is part of an investment in a biodiesel processing plant.

According to representatives from Global Green Bioenergy Limited and OLAMV, the cultivation of Jatropha Curcas will also contribute to the restoration of degraded environments around Oguta Lake. The plantation and processing activities will also facilitate the export of biodiesel.

During a media interview conducted after inspecting a section of the farm site along Oguta Lake with OLAMV members and consultants, Cons Ejiogu, a project and content development consultant working with OLAMV, revealed that the investment is valued at $50 million and will be based in Oguta.

Ejiogu emphasized that OLAMV, a community-led intervention organization, was established to safeguard the environment in Oguta due to the adverse effects of carbon emissions, pollution resulting from oil and gas operations, and diesel spills.

He explained, “The temperature rise in this area is higher than in others due to gas flaring activities and other carbon emissions within the community. To address these emissions, OLAMV identified planting Jatropha curcas trees, which offer value and produce biodiesel, as a natural solution to combat climate change caused by carbon emissions.”

Furthermore, Ejiogu highlighted that aside from environmental protection, the project is economically viable, underscoring that neither the Imo State Government nor the Federal Government has attracted such significant investment to Imo.

He expressed gratitude for the opportunity, stating, “Through divine providence, this organization has attracted a $50 million project domiciled in Oguta. American technicians will arrive with their equipment to process and refine the diesel for export, as outlined in the documents they have provided us. Additionally, they plan to export the resulting waste residue.”

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