The numerous energy challenges facing the world coupled with the lack of sustainability of the non-renewable “fossil fuels world” has led the search to sustainable alternatives. Biofuel has emerged as an alternative with great promise with quite some problems to contend with; this include the development of feasible technologies such as the search for highly efficient saccharification enzymes; and the high cost of production which make the fuel price exorbitant. Thus there is need for cheap processing technologies in order to make the biofuels affordable. We reviewed lots of progress made on biofuel development and some cutting-edge technologies being developed for their production.