Risk analysis and development of algae biofuel from aquatic and terrestrial systems

Abstract Production of algae biofuel from aquatic and terrestial systems are global emerging strategies for the reduction of the overreliance on fossil fuel based on its potentials to promote the green environment, which can be a panacea to the global warming, climate change and other earthly challenges affecting global evolution. Algae as bioenergetic resource has the capacity to solve the uneven energy supply of developing countries. This study adopts an exploratory research appraoch and uses a contextual SWOT model to assess what needs to be done on the premise of the prevailing situation in Nigeria and strategically analyzes the risk and potential benefits of biodiesel production from algae. The model helps to examine the strength, weaknesses, opportunities, and threats of the algae biofuel production and utilization peculiar to Nigeria. The result showed that there are prospects for the algae biofuel implementation in Nigeria, though with various limitations. Some of the challenges anticipated could be resolved with adequate government and private stakeholders support in terms of policies, funding and sustainable management. The main focus of this paper is on micro-algae, known for their rapid growth rate and suitability as feedstock for biodiesel (third generation of bio energy). With Nigeria’s total economic dependence on petroleum oils, algae derived biofuel could provide options as well as aid environmental sustainability.