Nigeria might look like in quandary in the intervening time over the administration of its oil and gasoline trade. President Bola Ahmed Tinubu, in his inaugural speech introduced the removing of the monstrous gasoline subsidy that had gulped an estimated N16 trillion within the  final decade with out a lot to point out for it.

This coverage assertion has triggered panic within the trade as the value of Premium Motor Spirit (PMS) in any other case often called petrol has skyrocketed to over 300 per cent  inflicting actual hardship within the land. The scenario within the nation is fraught with uncertainty that if the problems will not be dealt with correctly with the precise palliatives in place, the scenario might worsen. There is, nevertheless, a modicum of hope that the present struggling will abate if the precise mechanism is put in place to ameliorate the impacts of subsidy removing.

While this plan is on, this newspaper believes that it has grow to be incumbent on the Nigerian authorities and stakeholders to discover alternate options to fossil gasoline in a framework of diversification that can cut back the over dependence on gasoline particularly within the car trade.

It is our view that efforts needs to be intensified to allow the deployment of methanol gasoline within the car trade as a part of measures to hunt various to petrol and to assist sort out local weather change by decreasing the GreenHouse Gases emission in addition to job creation.

Already,  a brand new initiative is being taken by the Federal Ministry of Science Technology and Innovation for capability constructing on the implementation of the National Policy on Methanol gasoline manufacturing in collaboration with stakeholders.

We consider that introduction of the methanol gasoline expertise mission has grow to be crucial with the intention to make the most of Nigeria’s big deposits of gasoline reserves, cut back gasoline flaring and environmental air pollution.  We share  the idea that the trouble is meant to extend Nigeria’s capability to subsequently swap to methanol from a partial means to an entire substitute for Premium Motor Spirit (PMS) within the transport sector and assist to assist Nigeria’s full-scale implementation  of local weather change initiatives.

This is as a result of Methanol as a clean-burning gasoline is gaining recognition globally as a viable various to fossil gasoline and Nigeria has a bonus being one of many largest oil-producing nations and having the biggest pure gasoline reserve in Africa. It is essential that we discover various vitality sources and methanol gasoline manufacturing, in our opinion, is an possibility right into a greener financial system.

We recall that Nigeria,  with another nations, signed the Paris Agreement in 2015 and the Agreement got here into drive in 2020. Nigeria has dedicated herself to 47 per cent minimize in international warming underneath the Nationally  Determined Contributions(NDC) in seven sectors specifically oil and gasoline, vitality, agriculture, water, transportation, trade and waste that are strategic to the nation’s steady financial survival.

Figures from the federal authorities additionally recommend that in the intervening time there’s a mix of methanol (15 per cent  with PMS (5 per cent) and it’s believed that with additional analysis, Nigeria can produce 100 per cent methanol gasoline that may energy the car trade and assist to create jobs for 40 million folks within the subsequent two years.

This growth is spectacular however Nigeria should work the discuss. We hereby maintain the federal government to account on its pledge to spice up funding on this sector that’s promising so as to add extra worth to the financial system. And to realize this, we advise that there have to be a correct framework of information technology and gathering within the related sectors (Transport, Chemical and Industry).

This newspaper is on the view that the methanol gasoline expertise implementation programme, if correctly finished,  may help to cease the flaring of gasoline within the Niger Delta area and cut back environmental degradation. The programme may increase small, medium and large-scale firms to broaden their chemical industries, produce numerous sorts of industrial adhesives, generate and distribute electrical energy to off-grid places, run cheaper and environment friendly transportation system, enhance the livelihood of ladies via improved methanol prepare dinner stoves amongst others.

Most of all, the federal government and stakeholders should develop applicable funding mechanisms, enterprise funding, propagation and implementation of the methanol gasoline expertise in Nigeria. It also needs to develop and assemble pilot methanol manufacturing, mixing and testing amenities in chosen geo-political zones of the nation.

This transfer can firmly set up a thriving methanol gasoline trade geared in the direction of enhancing the standard of automotive fossil-based fuels for transportation and energy technology in Nigeria.  The sustainability of this mission,  nevertheless, depends upon the desire of the federal government to deal with lapses within the system particularly the insidious corruption, which have to be systematically checked.

This newspaper has maintained that Nigeria should harness her potential in methanol gasoline expertise to stay related among the many comity of countries.  The nation has groped at midnight for therefore lengthy relying on gasoline, which mismanagement has triggered unprecedented confusion and extended distress within the land.  We should get it proper this time.