The federal government said its methanol fuel technology programme would create over 40 million new employment opportunities for Nigerians in two years.

The Minister of Science, Innovation and Technology, Chief Uche Nnaji, who disclosed this in Abuja at the weekend, said the government's methanol economy revolution would harness the vast potential of methanol as a clean and sustainable energy source and position the country as a leader in Africa's energy transition.

"It can potentially create over 40 million new employment opportunities in two years and complement other efforts in curbing the effects of fuel subsidy removal on the populace," Nnaji said. The minister added that President Bola Ahmed Tinubu's administration was committed to solving Nigeria's problems through innovation in science and technology.

He expressed dissatisfaction that despite the country's rich endowment in natural resources, youth unemployment remains a massive challenge as the country constantly exports domestic jobs by importing products that can be produced locally.

The minister also maintained that Executive Order 5 would tackle the bottleneck mitigating against the manufacturing sector in Nigeria, adding that improved power supply, locally fabricated machines and local technologies, if well harnessed, would increase export and boost Gross Domestic Product (GDP).