In recent times, limitations and adverse effects of fossil fuels have significantly attracted researchers' attention to green fuels worldwide, especially in developed nations. As a way of assessing this actualization of biorefineries establishment in developing nations, this report surveys the works done by various researches towards this great course in terms of promoting and gaining the attention of both government and private investors about the technical and economic feasibility of embracing the use of biofuels, a case of bioethanol in Nigeria. Different classes of feedstocks were reviewed for the laboratory-scale, process scale-up, pilot plant, and techno-economic studies regarding ascertaining the technical and economic feasibility of local setup of a functional biorefinery in Nigeria, which would be beneficial environmentally and economically. The literature survey unveiled that the Bioethanol yield obtained from sugarcane-juice (72.7 %), banana-stems (84.0 %), and cassava (92.0 %) were found to be of highest potential amongst other sugar-based, lignocellulosic, and starch-based feedstock, respectively. The survey further unveils that the volume of process scale-up and economic feasibility studies does not correlate well with the laboratory-scale studies. The bulk of the research works on bioethanol has given preferential attention to laboratory studies. Only a few studies have looked into the commercialization (i.e., scale-up) of the laboratory findings and the economic implications. Presently, only sugarcane and a few cassavas are reported in the literature so far. It is, therefore, necessary for further studies to give attention to the investigation of the commercializing locally developed technologies and the exploration of their economic benefits.