Nigeria and Israel are to sign a bilateral agreement in the area of Methanol Fuel Production Technology that would be of mutual benefit to both countries.
This was disclosed on Monday when the Israeli Ambassador to Nigeria, Mr. Shimon Ben Shoshan paid a courtesy visit to the Ministry in Abuja.
Speaking during the visit, the Minister of Science and Technology, Dr. Ogbonnaya Onu said Nigeria is determined to explore and develop the methanol chemical fuel technology because it holds the key to the economic diversification of the country.
In a statement signed by the Director of Press in the ministry, Onu added that for Nigeria to become the manufacturing hub of Africa, it must utilize all its natural resources and add value to them so as to create wealth and employment for its teeming youths.
While describing methanol as a “Wonder Chemical”, the minister said its application will impact positively the power, energy, and manufacturing sector, adding that with its introduction, Nigeria will soon become the manufacturing hub of Africa.
He added that Nigeria would appreciate the inputs of Israel to ensure the smooth takeoff of the methanol policy.
Speaking earlier, the Israeli Ambassador Mr. Shimon Ben Shoshan, said Israel will be too willing to share its know-how and expertise on methanol fuel technology with Nigeria.
He said the methanol fuel technology is a better alternative to petroleum as it is cheaper, faster ad pollution-free.
Mr. Shoshan also said that his country is also amenable to learn from Nigeria’s indigenous technology as well as its progress in oil and gas technology.