ACCI set for FG’s funding for methanol fuel

The Abuja Chamber of Commerce and Industry (ACCI) has disclosed plans to apply for the federal government’s intervention funds for methanol fuel for national development.

The chamber in statement, stated that the decision was made at a workshop organised by the Department of Environmental Sciences and Technology of the Federal Ministry of Science, Technology and Innovation (FMSTI).

The workshop was aimed at engaging with the business community on the conduct of feasibility studies for the nationwide adoption of Methanol Fuel Technology and Diffusion with the theme, ‘Enhancing Business Opportunity for Methanol Driven Economy’.

The minister of the FMSTI, Dr Adeleke Olorunnibe Mamora, announced that the government is taking significant steps towards providing intervention funds to advance the development of methanol fuel technology.

He stated that the initiative aligns with President Buhari’s agenda and his recent presidential order to create 100 million jobs within a decade, adding that the utilisation of methanol’s extensive value chain for industrialisation plays a pivotal role in achieving this ambitious goal.

On his part, the President of ACCI, Dr. Al-Mujtaba Abubakar, appreciated the minister for bringing such an initiative to members of the chamber while also lauding the government’s effort in intensifying its production as an alternative source of energy in the country.

He said: “It is a known fact that due to the benefits embedded in methanol, the huge deposits of natural gas will be useful to the nation leading to job creation, technology development and domestication, electricity generation, clean household energy services, chemical industry value chain, and reduction in pulmonary diseases among women and children, efficient transportation services, stoppage of gas flaring amongst others.”