Home » GAS » Methanol Technology will Stimulate FDI in Oil, Gas Sector – Onu

Methanol Technology will Stimulate FDI in Oil, Gas Sector – Onu

…Lauds Israel’s Assistance………
The Minister of Science and Technology, Dr. Ogbonnaya Onu says Methanol Fuel Production Technology will stimulating foreign investment in the Oil and Gas sector as well as creating employment opportunities for our teeming youths.

He also said that the Methanol Fuel Production technology would expand the chemical industry chain-value, preserve our environment as well as add value to our huge gas resources in the country.

The Minister stated this on Tuesday when the Ambassador of the State of Israel to Nigeria, Amb Shimon Ben-Shoshan, visited him in his office in Abuja.

Dr. Onu who commended the State of Israel for its assistance to Nigeria in the area of Methanol Fuel Production Technology hailed the close relations between Nigeria and Israel, saying that Nigeria’s partnership with Israel had helped her considerably in the quest for a knowledge and innovation-driven economy.

According to him, the post-Covid era had underscored the need for Nigeria to move from resource to a knowledge and innovation-driven economy in her bid to achieve socio-economic progress.

The Minister recalled the recent Memorandum of Understanding (MOU) signed between the two countries for the implementation of Methanol Fuel Production Technology.

He further stated that Methanol Fuel Production Technology would replace Kerosene as household cooking fuel and contribute to efficient and effective transportation.

Methanol technology, he said will also help in climate change mitigation, improve electricity generation and help in economic diversification of the country, he added.

In his remarks, The Israeli Ambassador to Nigeria Mr. Shimon Ben-Shoshan said he came to brief the minister on the forthcoming Innovation Fair (I-fair) with the theme “Transforming Ideas into Information”, which the Israeli embassy is co-sponsoring to raise a generation of innovators, researchers and inventors in Nigeria by offering them a platform to transform their ideas into innovative solutions.

The Fair is open to all Nigerian citizens above 21 who have innovative ideas in Agriculture and Food Security, Food Technology, Renewable Energy, Environmental Management, Medical Devices/Simulations and Social Responsibility he added.

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