Nigeria’s economy at risk as biofuel replaces Aviation fuel by 2020

Worried by continuous rise in price of aviation fuel, a research authorized by the Europe, Middle East and Africa (EMEA) to fine tune a biologically sourced fuel for aeroplanes (aviation biofuel) is now to replace jet oil, on or before 2020, said a report.

According to an international group in charge of the research, Global Aviation Alternative Fuels Market (GAAFM), the test programme of the new product was successfully carried out in 2016 in selected countries in Europe and America.

“The aviation biofuel will go into full commercial use as from 2017 and is expected to replace the current carbon-oriented jet fuel as from 2020.

“After a multi-year technical review from aircraft and engine manufacturers and oil companies, biofuel was approved for use, in July 2011 but since then, some airlines had requested for special attention that could make the industry adapt biofuel.

“This has been acknowledged as the primary option that can facilitate the aviation industry to achieve its targets,” said EMEA spokesman, Mike Osborn.

It said commercial flights; reduce the carbon footprint of aviation fuel by up to 80% over the lifecycle of an aircraft.

Of late, the focus on the aviation industry has shifted to sustainable higher cost of aviation fuel in Nigeria caused by scarcity of dollar, since February 2016, when recession officially hit the country.

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Some international airlines have reduced their flights schedules in Nigeria, while others resorted to refueling in Ghana, a neighbouring country.

But experts said Nigeria will be the worst off, if the aviation biofuel eventually replaces the current petroleum product, given its revenue projections and the marketers, who have already invested in the business.

The report covers the present scenario and growth prospects of the global aviation, if alternative fuel is found.

It also calculated the market size product with detailed analysis of five major vendors operating in the market, who have expressed hope that sales, product innovations, and geographic coverage of biofuel will benefit the aviation industry more than any other sector.

The report has been prepared based on an in-depth market analysis with inputs from industry experts, covering the market landscape and its growth prospects over the coming years.
By Emma Eke….

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