The Minister of Science and Technology, Ogbonnaya Onu, says efforts are on ground to ensure Nigeria is prepared for a post-crude oil era.
Onu said this in Abuja Thursday at the 2nd interactive forum with the state commissioners In charge of Science and Technology in Abuja.
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According to him, Nigeria has 187 trillion cubic feet of natural gas and has the highest natural gas reserves in the world and 9th highest in the world.
He said Nigeria was introducing methanol to the nation’s economy as it could be used to produce as many as 1,000 different products that could be used in our homes, schools, offices, hospitals, farms and factories.
He said: “The production of methanol will help us to stop gas flaring in the country. Since natural gas is the major feedstock for its production, this will increase the demand for natural gas and hence initially reduce and finally help stop gas flaring in the country”.
The minister added that Methanol fuel technology would be fully domesticated in the country.
He said Nigerian professionals could fully grasp the technology and be in a position to export the technology to other countries in the near future.
Onu said the Federal Government was determined to improve funding of Science, Technology and Innovation (STI).