Nigeria and Israel on Monday, June 8, reach consensus to sign a bilateral agreement in the area of Methanol Fuel Production Technology that would be of mutual benefit to both countries.
The agreement was sealed on Monday, when the Israeli Ambassador to Nigeria, Mr. Shimon Ben Shoshan, paid a courtesy visit to the Ministry of science and technology.
In his speech, the Minister of science and technology, Dr. Ogbonna ONU, said that Nigeria was determined to research and develop methanol-based chemical fuel technology, as it was the key to the country’s economic diversification.
The Minister insisted that in order for Nigeria to become the industrial center of Africa, it must use all its natural resources and increase their value to create wealth and employment for its many young people.
Also Read: Why Muammar Gadaffi was killed
Dr ONU, who described methanol as a ‘miracle chemical’, expressed optimism that its use would have a positive impact on the energy, energy and manufacturing sector, adding that with its introduction, Nigeria would soon become the manufacturing hub of Africa.
He added that Nigeria would be grateful to Israel for its contribution to ensuring a smooth take-off of the methanol policy.
Earlier in his speech, the Israeli Ambassador, Mr. Shimon Ben Shoshan, said that Israel would be too willing to share its know-how and experience in methanol fuel technology with Nigeria.
He said that methanol fuel technology is the best alternative to oil because it is cheaper, faster and does not pollute the environment.
Mr. Shoshan also said that his country was also willing to learn from Nigeria’s local technology, as well as its progress in oil and gas technology.