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Nigeria, Israel in planned deal for methanol production
Nigeria and Israel are on the verge of endorsing a bilateral deal aimed at developing methanol fuel production technology in the country.
The Federal Ministry of Science and Technology declared in a statement issued in Abuja on Monday that an agreement had been brokered with Shimon Shoshan, the Israeli Ambassador to Nigeria during his visit to the ministry.
Ogbonnaya Onu, the Science and Technology Minister, said Nigeria was resolute to explore and develop the methanol chemical fuel technology given that it was critical to the country’s economic diversification plan.
He avowed that harnessing Nigeria’s natural resources and adding value to them in other to generate wealth and employment must be given priority attention for the country to achieve the ambition of becoming Africa’s manufacturing hub.
Read also: CBN offers pharmaceutical firms N500m research grant
Mr Onu observed that methanol, as a wonder chemical, would offer a major boost to the energy, power and manufacturing sectors, saying Nigeria required the intervention of Israel in achieving the seamless commencement of the methanol policy.
Shoshan assured that Israel would be passionate to share its competence and expertise with Nigeria.
He described methanol as a better alternative to petroleum considering its affordability and pollution-free nature.
Shoshan said Israel was eager to learn from Nigeria’s indigenous technology and its advancement in oil and gas technology.
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