The Federal Government on Wednesday in Abuja took a decisive step towards implementing the Methanol production technology when it signed a memorandum of understanding (MoU) with an Israeli firm, DOR Group of companies.
The Minister of Science and Technology, Dr. Ogbonnaya Onu and the Minister of State, Barrister Mohammed Abdullahi, together with the Permanent Secretary, Dr. Mohammed Bello Umar signed the Memorandum of Understanding (MoU) on behalf of the Federal Government.
The Chief Operating Officer Prof. Vincent Asor signed on behalf of DOR Group of Israel. The event was witnessed by the Deputy Chief of Mission of the Embassy of the state of Israel, Mr. Yotam Kreiman and Florence Osuji, Senior Economic Officer.
Speaking after the signing of the agreement, the Minister of state for Science and Technology, Barrister Mohammed Abdullahi said the Federal Government is determined to execute to the letter the terms and spirit of the agreement, adding that the signing of the agreement will significantly change the fortunes of Nigeria.
He added that the Methanol Technology will expand the chemical industry value-chain, replace kerosene as household cooking fuel and contribute to efficient and effective transportation. Other advantages of the Methanol production technology, he added, are climate change mitigation and improvement in electricity generation aside from diversifying and growing the economy.