The federal government has announced that its methanol fuel technology program is expected to generate more than 40 million new job opportunities for Nigerians within two years.
Chief Uche Nnaji, the Minister of Science, Innovation, and Technology, revealed in Abuja over the weekend that the government’s methanol economy initiative aims to tap into methanol’s extensive potential as a clean and sustainable energy source. This initiative aims to position Nigeria as a frontrunner in Africa’s energy transition.
- “It can potentially create over 40 million new employment opportunities in two years and complement other efforts in curbing the effects of fuel subsidy removal on the populace,” Nnaji said.
It was stated by the minister that President Bola Ahmed Tinubu’s administration is firmly committed to using innovation in science and technology as a means to tackle Nigeria’s problems.
Moreover, he lamented the fact that, despite the nation’s wealth in natural resources, youth unemployment remains a daunting challenge, exacerbated by the country’s tendency to outsource jobs by importing products that could be made within its borders.
He said Nigeria’s abundant natural resources remained largely untapped, leading to the country importing items it could have capitalized on producing and exporting to bolster its economy.
- “We exported cocoa but imported chocolate. We exported groundnuts but imported peanut butter. We exported wood but imported toothpicks. We exported crude oil but imported petroleum products. This has reduced revenue generation, stagnated job creation, aggravated poverty in the country, and weakened our currency and the economy.”
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Speaking further, he believes that a methanol-driven economy can bring about positive outcomes, including job growth, technological development, resource localization, electricity generation, clean household energy, gas flaring cessation, and environmental sustainability.
He said with the introduction of methanol, manufacturers will use it as a feedstock for several product lines.
- “As a fuel in the transport sector, it is cheaper than PMS (petrol), friendly to the environment, has a higher octane rating, and enhances the performance of vehicles. Furthermore, methanol can be blended with PMS at 15% methanol and 85%PMS. This blend can be used in all vehicles without requiring any significant modification.
- “The use of kerosene and wood for cooking darkens pots and may lead to some health challenges, if one is exposed to the fumes for long, during cooking. Methanol, being a cleaner and cheaper fuel, will help to solve this problem”, he added.
