THE Federal Government, on Tuesday, said it had developed a policy framework to stop gas flaring in Nigeria.
Minister of Science and Technology, Dr Ogbonaya Onu, who announced this at a world press briefing in Abuja, lamented that several unsuccessful attempts have been made since the 1960s to stop it, which had never succeeded.
He said after the approval of the Federal Executive Council (FEC) meeting, he constituted a tripartite technical committee with membership from his ministry, as well as Petroleum Resources and Nigerian National Petroleum Corporation (NNPC) to develop a policy for methanol-fuel production technology in Nigeria.
“It is this policy that I am presenting to you with the strong believe that: the investing community will take advantage of the policy to build industries around the methanol value-chain. It will encourage the economic diversification drive of this administration, and create job opportunities for our teaming youth population.
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“With the support of the oil majors, the end of the gas flaring in Nigeria is insight. More revenue will become available to the Federal Government as a result of spin-off industries that will be created in the process among others.” He added.
Dr Onu said the policy was aimed at adding value to the nation’s gas resources estimated at 199.09 Trillion Cubic Feet proven reserves (DPR Annual Report, 2017) and expand the chemical industry value-chain and replace kerosene as household cooking fuel.
The minister further said it would also contribute to the efficient and effective transportation system, climate change mitigation, improve electricity generation and in the process diversify and grow the nation’s economy.
He then promised that his ministry would not rest until Nigeria was able to add value to its abundant raw materials through innovation.
This, according to him, would help move the economy away from being dependent on the commodity to that driven by knowledge.
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