Methanol Fuel Technology to create about 40 million jobs-Minister
Methanol Fuel Technology to create about 40 million jobs-Minister
The Federal Ministry of Science, Technology and Innovation (FMSTI) has said that the implementation of the Methanol Fuel Technology Policy would create about 40 million jobs.
The policy, an initiative of FMSTI, in collaboration with the Federal Ministry of Petroleum Resources and other Ministries, Departments and Agencies(MDAs), is aimed at adding value to the nation’s gas resources estimated at 199.09 trillion cubic feet reserves as well as expand the chemical industry value-chain.
It also aims to replace kerosene as household cooking fuel, contribute to efficient and effective transportation system, climate change mitigation, improve electricity generation and in the process diversify and grow the economy.
Minister of FMSTI, Dr. Ogbannaya Onu, who stated this in Abuja during the sensitisation of the public on methanol fuel production technology policy said methanol has various uses and applications.
He underscored the need for Nigeria to adopt a different approach in the development of methanol fuel production, adding that over the years, the nation had failed to add value to its abundant natural resources, which has resulted in revenue loss, stagnated job creation and increased poverty in the country.
He explained: ”Methanol-driven economy is beneficial in job creation, technology development and domestication, electricity generation, clean household energy services, stoppage of gas flaring and achieving environmental sustainability.
“With the introduction of methanol, manufacturers will use it as a feedstock for several product lines.
“As a fuel in the transport sector, it is cheaper than PMS (petrol), friendly to the environment, has higher octane rating and enhances performance of vehicles.
“Furthermore, methanol can be blended with PMS at 15 per cent methanol and 85 per cent PMS. This blend can be used in vehicles without requiring any significant modification.
“The use of kerosene and wood for cooking darkens pots and may lead to some health challenges, if one is exposed to the fumes for long, during cooking.
“Methanol, being a cleaner and cheaper fuel, will help to solve this problem.
“In view of all these, the Federal Ministry of Science Technology and Innovation hereby extends a hand of partnership to entrepreneurs and investors in the private sector to invest in methanol production in the country based on science, technology and innovation.”
Already, the Federal Executive Council (FEC) had approved the National Policy on the Methanol Production Technology and Methanol Value Chain Implementation Programme in Nigeria in October 2019
