National Telescope national telescope newspaper
The Federal Government has announced plans to produce 1.2 million metric tons of green methanol per year, as part of its efforts to reduce shipping decarbonization to net zero emission by 2050.
This project, tagged “Landmark Green Hydrogen,” will kickstart in Uyo, Akwa Ibom State, with an initial investment of €5.9 billion.
Minister of Innovation, Science and Technology, Uche Nnaji, revealed this during a summit in Abuja, attended by top government officials, federal lawmakers, and representatives of the international maritime organization.
The summit focused on finding solutions to reduce shipping decarbonization to net zero by 2050, in line with the international maritime organization’s agenda.
This project is expected to contribute significantly to Nigeria’s economy and reduce its carbon footprint.
With the global production capacity of methanol projected to exceed 256 million metric tons by 2030.
Nigeria is positioning itself to become a key player in the methanol production industry.
