Home Business Technology Economic diversification: How Methanol Technology ‘II create jobs, boosts revenue, others -Onu

Economic diversification: How Methanol Technology ‘II create jobs, boosts revenue, others -Onu

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The Minister of Science and Technology Dr Ogbonnaya Onu says Methanol Technology will significantly impact on the economic diversification programme of the federal government, while creating jobs and wealth for the country.

The Minister, who spoke at the  2nd Inter-Ministerial meeting of the implementation of the National Policy on Methanol Fuel Production Technology, held at the Federal Ministry of Science and Technology in Abuja, noted that Nigeria is more of a gas than an oil nation.

He, therefore, expressed optimism that the methanol production technology will boost the nation’s revenue generation, stoppage of gas flaring and development of local content.

According to him, the introduction of methanol technology will go a long way in reducing gas flaring in the environment.

He also explained that Nigeria’s enormous gas resources would be converted into useful products, through methanol technology, thereby paving the way for other businesses to grow, adding that the demand for gas by these businesses will tremendously reduce gas flaring.

According to Onu, the Federal government had long intended to end gas flaring in Nigeria, adding that with methanol technology production a large amount of gas flared would be converted to methanol which is environmentally friendly.

 He further said that with methanol, usage of kerosene and firewood to cook will be reduced to the barest minimum, thereby reducing deforestation.

For him, methanol will also impact positively in transportation, power generation and manufacturing, adding that methanol as a major raw material in industrial production and will go a long way in boosting our economy.

Earlier, the Permanent Secretary, Dr Bello Umar, called on the committee to ensure thorough work is done to see to the immediate implementation of the policy for the good of our nation and also to boost the revenue drive of the government.

The Minister of Environment, Dr Muhammad Mahmood Abubakar, the Minister of State for Science and Technology, Barr. Mohammed Abdullahi were among other top government officials present at the meeting with the representatives of Minister of Finance and Minister of State for Petroleum.

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