Company description
Asanita Agricultural & Industrial Development Company Ltd is a Nigerian agribusiness and bioindustrial company building domestic ethanol production infrastructure at scale. The company operates an integrated model that links cassava cultivation, smallholder outgrower networks, and industrial processing into bioethanol and high-value by-products.
Asanita is already active in the ethanol market through import and supply under a government-issued concession. The company has also commenced a 2500-hectare cassava feedstock cultivation project in Edo State, through a structured youth outgrower model, securing over 50% of its feedstock requirement.
At full scale, Asanita’s operations will include a 50,000 litres/day ethanol facility supported by 25 tons/day CO₂ recovery, 2.2MW biomass power plant, and 30 tons/day cassava peels-to-animal feed production plant—delivering a circular, zero-waste industrial system that reduces import dependence and strengthens Nigeria’s bioeconomy.
Team
Management Team: Asanita’s management team is a multidisciplinary group combining strong leadership across operations, finance, technical execution, and governance. Led by CEO Victor Legogie, the team includes Olufemi Odia Emeya (COO) driving operational delivery, Uma Shankar Verma (CTO) overseeing technical and plant development, Elizabeth Esene (CFO) managing financial strategy and controls, and Jennifer Iyamu (Head of Compliance & ESG) ensuring regulatory compliance and sustainable business practices. Together, they bring the expertise required to execute and scale complex agro-industrial projects.
Countries of operation
Nigeria
Ownership of company
Nigeria
Year of incorporation
2026
Number of years since incorporated
0
Project pitch
Asanita Ethanol Platform
Nigeria faces a structural supply gap in ethanol. Despite being one of the world’s largest cassava producers, the country imports the majority of its pharmaceutical and industrial ethanol, placing sustained pressure on foreign exchange. At the same time, national demand is accelerating—driven by clean cooking initiatives and the planned transition to E10 fuel blending, projected to reach 570 million litres annually by 2030.
Asanita is building a domestic supply backbone to meet this demand.
The business integrates large-scale cassava cultivation with industrial processing, anchored on a 50,000 litres per day ethanol facility supported by a CO₂ recovery plant, a 2.2MW captive power plant, and a cassava peels-to-animal feed processing facility. Designed as a circular system, cassava is converted into clean cooking and biofuel ethanol, pharmaceutical-grade ethanol, food-grade CO₂, animal feed—maximising value while eliminating waste.
This is not a concept in formation. Farming operations are already ongoing in Edo State, and ethanol import and trading is active under a government-issued import concession for 80 million litres over three years. The processing facility represents the next phase of an enterprise already operating within the market.
Beyond production, Asanita is building a 7500-job rural economy through its agricultural operations, including a 2,500-hectare youth outgrower programme that connects smallholder farmers to industrial demand.
Every litre produced locally reduces Nigeria’s dependence on imports, conserves foreign exchange, and strengthens national industrial capacity. Asanita is not just building a plant—it is establishing essential energy and agricultural infrastructure for Nigeria’s future.
Type of Project:
Agro-processing
Stage of project
Early-stage execution / Pre-industrial scale — 2500 hectares land development and feedstock systems are ongoing, while the processing phase is in development. In parallel, Asanita has initiated early ethanol market participation through import and supply under Nigeria’s backward integration framework, positioning the company within the value chain while building toward full local production capacity.
Total project cost (in EUR)
€18.22 million
Annual revenue (in EUR)
50.000-100.000 EUR
Number of employees
Between 10 and 50 employees
Financing needs (in EUR)
7.15 million (Equity), 10.29 million (Debt)
Type of financing needed
Equity
Planned allocation of fundraising capital
Equipment procurement, plant construction, infrastructure development, and working capital
Website/URL
www.asanita.com
