The Honourable Minister of Science, Technology and Innovation Dr. (Sen.) Adeleke Olorunnimbe Mamora has said in a bid to unlock Nigeria Methanol Fuel sub-sector potential, Federal Government’s intervention fund is needed to promote sustainable development.
The Minister said this during a Round Table Interaction Session with Abuja Chamber of Commerce and Industry (ACCI) recently, in Abuja.
According to the Minister, Methanol development is a strategic project, to further reduce total dependence caused by carbon emission, as well as embracing local content.
Mamora said that the theme ‘’Enhancing Business opportunity for a methanol driven economy’’ is aimed at engaging with the business community and to discuss the feasibility studies for the wide adoption of methanol fuel technology in Nigeria.
He noted that the initiative is in accordance with the present administration order, to create jobs and move 100 million Nigerians out of poverty in the next 10years.
The Minister further stated that this can be achieved through the utilization of methanol’s extensive value chain aimed for industrialization and substantial development.
To this end, the Minister enumerated various benefits to be derived which include improved electricity supply , reduction in carbon footprint in transportation and job creation amongst others.
The Minister further stated that the Ministry has undertaken various projects to boost the country’s climate change action through deployment of cutting edge hydrogen fuel cells technology, using Methanol as electricity supply in Nigeria.
He noted that by signing a Memorandum of Understanding (MOU) between South Africa and Nigerian Company for Technology transfer the Federal government has provided a counterpart funding of $2.7 million for the projects.
He then disclosed that the Federal Ministry of Science ,Technology and Innovation (FMSTI) initiative is aimed at finding a solution to Nigeria’s pursuit of green industrialization, job creation, tackling the impact of climate change , and aiming at a net –zero position by the year2060.
Earlier, the Director of Environmental Science, Technology Department (EST) of the Ministry, Dr. Peter Ekweozoh said that the Ministry has conducted a comprehensive feasibility study for methanol production in Nigeria.
He further said that this will create an enabling environment for ACCI Council members, and drive the business aspect of Methanol production in Nigeria.
He also revealed that FMSTI is working on implementation of hydrogen fuel cells using Methanol in the country,
Speaking, the President of Abuja Chamber of Commerce, and Industry (ACCI) Dr. AI-Mujataba Abubakar opined that Methanol production will serve as a viable alternative energy source in the country, adding that Nigeria will leverage on the resource to transit to enviable development and economic self reliance of the country.
Atuora Obed O.