The Federal Government has said more than 40 million Nigerians will get jobs and create wealth through methanol fuel if the implementation of Methanol Fuel Technology Policy begins in the country.
The Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu disclosed this in Abuja on Tuesday when he launched the sensitization campaign on Methanol Fuel Technology.
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Methanol Fuel is an alternative bio-fuel for internal combustion and other engines, either in combination with gasoline or independently, which is less expensive to produce sustainably than other fuel.
The Methanol Fuel Technology policy, was developed jointly with the Federal Ministry of Transport, Finance, Petroleum, Agriculture, Power, Environment among others..
Methanol technology, Onu said, is a fuel with lower risk of flammability compared to gasoline and other products.
The minister said with methanol fuel technology, more value will be added to the country’s natural resources.
He further said that the methanol technology should be domesticated, in line with the Presidential Executive Order 5, adding that this will enable our professionals and entrepreneurs to compete with the best in the world.
He stated that with the introduction of methanol, manufacturers will use it as a feedstock for several product lines.
Earlier, the Director of Environmental Science Technology in the ministry, Dr. Peter Ekweozor said that strategies have been put in place to source for funding to boost the methanol fuel technology value chain.
He added that this technology will boost Nigeria’s socio-economic fortunes.
