17 February 2020
Nigeria has the 9th largest proven natural gas reserves in the world with approximately 200 trillion cubic feet (tcf). Despite having the largest reserves in Africa, only about 25% of those reserves are currently being developed. Regrettably, the country has not blossomed from the raw materials value-chain industry catalysation in a similar manner as some OPEC member states, where in-country human capacity building and industrialization have been by-products of the exploitation of natural resources. Due to a crippling lack of utilisation infrastructure, the country still flares about 331 billion cubic feet (bcf) of the natural gas it produces.
With the country’s signing of the Paris Agreement and its commitment under its Nationally Determined Contributions to cut emissions by 45% in the strategic sectors linked to the nation’s continued economic survival, the Federal Government of Nigeria (FGN) recently issued the National Policy on Methanol Fuel Production Technology (the “Policy”).