The Federal Government is working to create new jobs from the country’s 206.53 trillion cubic feet proven gas reserve, the Minister of Science, Innovation and Technology, Dr. Ogbonnaya Onu, has said.
Onu, who spoke in Abuja at the sensitisation on methanol fuel production technology, stated the government’s resolve to the stoppage of gas flaring to achieve environmental sustainability.
He said a methanol-driven economy is beneficial because it can be blended with PMS (petrol) at 15 per cent methanol and 85 per cent PMS and used in vehicles without requiring any significant modification.
”This explains why we must adopt a different approach in the development of methanol fuel technology policy. God blessed us with abundant natural resources. We exploited them in their raw state and never added value. This reduced revenue generation, stagnated job creation, aggravated poverty in the country and weakened both our currency and economy,’’ he said.
Onu added: “We must prepare our economy to effectively cope with the inevitable post crude oil era that must come. We want to domesticate the methanol technology in the country such that in the future, Nigerian scientists and engineers, in line with the Presidential Executive Order No. 5, will develop entrepreneurs and businesses that can compete with the best on the world.
“The sole aim of the FMSTI is to utilise Science, Technology and Innovation as a catalyst to achieve sustainable economic development. Innovation is at the heart of our ability to find solutions that are economically, environmentally and socially sustainable.’’
