Home Energy UNCTAD says Nigeria, others need biofuel for devt.

UNCTAD says Nigeria, others need biofuel for devt.

The United Nations Conference on Trade and Development (UNCTAD) has tasked Nigeria and other developing economies on the need to exploit the biofuels market as alternative means of energy supply.
As this is imperative to enable the country  bridge energy demand gap, especially in the real sector.
With biofuels accounting for one per cent of global energy use, a new UNCTAD report on the state of the global biofuels market has found climate change concerns and economic pressures as key drivers shaping the future of this increasingly important sector.
According to the report, “while alternative energy sources are growing faster than any other energy source, they still account for a very limited share of primary energy demand, therefore they are not expected to replace fossil fuels but to play a complementary role in satisfying the world energy demand,” the report says.
The report, tagged, ‘The State of the Biofuels Market: Regulatory, Trade and Development Perspectives’, offers a comprehensive snapshot of today’s biofuels market and how it contributes to enhancing access to renewable energy sources sustainably and improving the livelihoods of people in developing countries.
While offering analysis of the state of today’s biofuels market, the report advocated policy recommendations for developing countries to make beneficial use of biofuels.
According to the report, there is a need for the creation of regulatory frameworks tailored to national resource endowments, which do not antagonize food, and energy supplies but rather enhance agricultural productivity, rural income and workers’ skills.
The report however stated that the development of competitive second-generation biofuels, which are made from woody crops, agricultural residues or waste (unlike first generation biofuels made from the sugars and vegetable oils found in arable crops), will pose a number of challenges to developing countries.
To address these challenges, the report advocated international strategies to avoid the emergence of a technological gap between land-intensive first generation and capital-intensive second-generation biofuels.
The report is an update of a similar report produced by UNCTAD in 2006 and notes that as of 2014 bioethanol and biodiesel had already become established products traded daily in all continents thanks to their use in the transport sector, especially for road vehicles.

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