National Economy
Friday, July 11, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Technology

Powering Nigerian Economy Through Methanol Fuel Production Technology

by Innocent Odoh
2 years ago
in Technology, Lead-In
Reading Time: 3 mins read
methanol_car
Share on FacebookShare on TwitterShare on Telegram

Nigeria’s quest to strengthen its economy through Methanol Fuel Production technology strategy has again come to the fore as the federal government has entered into a collaboration to use the technology to enhance startup businesses among the young people in the country.

Indications to this development emerged at a training workshop on the Implementation of the National Policy on Methanol Fuel Production Technology Strategy Using Dassaults Systems Solid Work Technology organised by the ministry in Abuja recently.

The use of this technology has become very imperative because according to the Permanent Secretary of the Federal Ministry of Science, Technology and Innovation, Mrs Monilola Udoh, Nigeria has the 9th largest proven natural gas reserves in the world with approximately 200 trillion cubic feet, and despite being the largest in Africa, only 25 per cent of those reserves are currently being developed.

The permanent secretary also said that the oil and gas industry is the backbone of the Nigerian economy, but with a shift towards renewable and clean energy resources, the country’s economy can be diversified.

You May Like

World Bank Approves $65m Loan For Nigeria’s SPESSE Project

Nigeria’s Money Supply Falls to ₦119trn In May Amid CBN Tightening

Methanol, she said, is a clean-burning fuel that is gaining traction globally as a viable alternative to fossil fuels in the country, adding that the country needs to explore alternative energy resources and methanol fuel production will be an excellent option.

According to Mrs Udoh, the ministry is collaborating with Messers Coscharis Technologies Limited in training the Staff on the use of Advanced Manufacturing Technologies Software and solid works solution to drive projects and programs in the Ministry.

Solid work is Computer Aided Design (CAD) software that enables engineers to create 3D models of products, parts and coupling of machines which is widely used in the manufacturing industries to design and develop new products across sectors.

One of the mandates of the ministry is to necessitate the need for the training of staff for effective implementation of projects and programmes for optimal contribution by all participants during the training.

The director environmental sciences and technology department, Dr. Peter Ekweozor. said that the Methanol Fuel Policy is one of the key mandates of the ministry to drive   socio-economic development of Nigeria.

He stated that the efforts of the ministry are to ensure that the policy adds value to Nigeria’s natural materials, which will facilitate the advancement of technologies necessary for job creation, serve as a source of raw materials for our manufacturing industries, generate cleaner electricity and cut down global warming.

Product manager of Solid Works, Clement Nnedu, told the media in an interview that Soild Works is a solution that understands what and how people produce any product of their choice in any sector of the economy, coming out of research, designs and manufacturing.

“Whether it is in the software or in the equipment, Solid Works is a software that is so easy to learn. Whatever you can do, Solid Works will help you do it better, and it is an easy software to use even up to medical equipment.

“We are training the ministry to be able to implement the equipment designs, and the environment where methanol will be produced and it is used for precision manufacturing after it has been designed.

“The training is to bring knowledge to the youth on how to build their startups and create their own jobs in various industries,” Nnedu said.

He assured that Nigeria will gain a lot because when the youth start creating their own startups, the different sectors of the economy will benefit immensely   from the solutions.

While the collaboration appears very impressive, the public want to see in the nearest future what the outcome of this collaboration f will be.

 

 

ShareTweetShare
Previous Post

How Private Sector’s $17bn Investment Is Driving Nigeria’s Energy Transition

Next Post

Stock Market Continues To Soar, Defy Election Prediction

ANOTHER GOOD READ

World Bank Approves $65m Loan For Nigeria’s SPESSE Project
Lead-In

World Bank Approves $65m Loan For Nigeria’s SPESSE Project

4 days ago
Nigeria’s Money Supply Falls to ₦119trn In May Amid CBN Tightening
Lead-In

Nigeria’s Money Supply Falls to ₦119trn In May Amid CBN Tightening

4 days ago
FG Okays 37 New Oil Routes To Halt Theft
Lead-In

FG Okays 37 New Oil Routes To Halt Theft

4 days ago
Nigeria’s Power Generation Rises By 10.92 % In Q1 2025
Lead-In

Nigeria’s Power Generation Rises By 10.92 % In Q1 2025

4 days ago
Foreign Artisans Taking Over Local Jobs
Cover

Foreign Artisans Taking Over Local Jobs

4 days ago
‘Intra-African Trade To Hit $440bn By 2035 With Full AfCFTA’
Lead-In

‘Intra-African Trade To Hit $440bn By 2035 With Full AfCFTA’

2 weeks ago
Next Post
stock-exchange

Stock Market Continues To Soar, Defy Election Prediction

Most Recent

Trump Cryptocurrency Drops Amid US Tariff Backlash

Trump Threatens 10% Tariff On Countries Aligning With BRICS

July 7, 2025
China Hits US With Retaliatory Tariffs, Launches Probe Into Google Practices

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

July 7, 2025
CBN Unveils New Liquidity Instruments For NIFIs

CBN Clarifies BVN Fee For Nigerians In Diaspora

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

Fiscal Governance Lifeblood Of National Development— Tinubu

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

At BRICS Summit,Tinubu Demands Reform Of Global Financial, Health Systems

July 7, 2025
LG Launches “Radio Optimism” Campaign

LG Launches “Radio Optimism” Campaign

July 7, 2025
Are Africans Genetically Inferior?

Are Africans Genetically Inferior?

July 7, 2025
Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

July 7, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy