Title:
Exploration of Biomass for the Production of Bioethanol: "Economic Feasibility and Optimization Studies of Transforming Maize Cob into Bioethanol as a Substitute for Fossil Fuels"
Author(s):
Oyegoke, T., Obadiah, E., Mohammad, S.Y., Bamigbala, O.A., Owolabi, O.A., Oyegoke, A., Onadeji, A., Mantu, A.I.
Document(s):
Paper
Poster
Abstract:
This study explores the profitability of transforming maize cobs into bioethanol fuel which is expected to complement or substitute the use of fossil fuels in the post-pandemic economic recovery and aid in providing effective management of solid waste in developing nations like Nigeria. An evaluation to identify the conditions for attaining optimal net profit (NP) and return-on-investment (ROI) was carried out. The study's findings confirm that the project would be unprofitable in light of the loss (negative return) that producers would realize from the process. On the other hand, the cost optimization studies carried out for the project recommend support for the producers through subsidies and other financial support in reducing production costs, and appropriate incentives should be put in place by the government. That would encourage individuals to take advantage of enabling conditions for bioethanol production as the biofuel may serve as an alternative to petrol, which is expensive to access to meet energy needs.
Keywords:
bioeconomy, bioethanol, biofuel, biomass, modelling, waste, optimization
Topic:
Sustainable Bioeconomy: Impacts and Policies
Subtopic:
Resource Efficient Bioeconomy
Event:
29th European Biomass Conference and Exhibition
Session:
4BV.9.13
Pages:
1270 - 1275
ISBN:
978-88-89407-21-9
Paper DOI:
10.5071/29thEUBCE2021-4BV.9.13
Price:
FREE
