Dr Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC ), said on Wednesday that the company is investing in renewable energy to accelerate Nigeria’s industrial development, The Nation reports.

Baru said at the ongoing 39th Kaduna International Trade Fair that the NNPC had set up a Renewable Energy Division not only to develop solar and other renewable energy sources, but to also develop bio-fuels from agricultural produce.

According to him, the multiplier effects of such ventures include reviving the agricultural sector and generating huge employment. “Not only that, the bio-fuel will be blended to our refineries petroleum products, which will significantly reduce imports of petroleum products into the country,” he said.