A statement by the Federal Ministry of Science and Technology in Abuja on Monday stated that the preliminary agreement was reached when the Israeli Ambassador to Nigeria, Shimon Shoshan, paid a courtesy visit to the FMST.
The Minister of Science and Technology, Ogbonnaya Onu, said Nigeria was determined to explore and develop the methanol chemical fuel technology as it was key to the economic diversification drive of the country.
Onu stated that for Nigeria to become the manufacturing hub of Africa, it must utilise all its natural resources and add value to them so as to create wealth and employment.
The Minister described methanol as a wonder chemical and noted that its application would impact positively on the power, energy and manufacturing sectors.
He told his guests that Nigeria would appreciate the input of Israel to ensure the smooth takeoff of the methanol policy.
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Shoshan said Israel would be willing to share its know-how and expertise on methanol fuel technology with Nigeria.
According to him, methanol fuel is a better alternative to petroleum as it is cheaper, faster and pollution-free.
The ambassador also said his country was amenable to learn from Nigeria’s indigenous technology as well as its progress in oil and gas technology.
Both government officials, therefore, agreed to work together to make the ethanol technology available in Nigeria soon.