The Minister of Science, Technology, and Innovation, Dr Ogbonnaya Onu, has said methanol fuel technology would create over 40 million new jobs and boost national wealth, if properly managed.
The minister said this at the launch of a sensitisation campaign on methanol fuel technology in Abuja on Tuesday.
This was contained in a statement titled ‘FMSTI sensitises Nigerians on methanol fuel technology’ issued by the Head of the ministry’s Press and Public Relations team, Josephine Ademu.
“The sensitisation exercise is to make Nigerians understand the benefits of Methanol fuel in the country as it will help to generate over 40 million new jobs and create more wealth for the country.
“Methanol fuel is an alternative biofuel for internal combustion and other engines, either in combination with gasoline or independently, which is less expensive to produce sustainably than other fuel.”
It added, “Methanol technology, the minister said, is a fuel with lower risk of flammability compared to gasoline and other products.
“The minister said that with methanol fuel technology, more value will be added to the country’s natural resources.”
The statement added that the methanol fuel technology policy was developed alongside the Federal Ministries of Transport, Finance, Petroleum, Agriculture, Power, Environment, among others.
It added that the technology should be domesticated, in line with the Presidential Executive Order 5, as it would enable professionals and entrepreneurs to compete globally and help in the manufacturing of several product lines.
