NLNG-Backed Initiative To Save Nigeria $500m Annually

Nigeria is set to record significant foreign exchange savings of about $500 million annually with adoption of research work supported by the Nigerian Liquified Natural Gas Limited (NLNG).

In a significant announcement that could reshape Nigeria’s energy future, the Advisory Board of The Nigeria Prize for Science recognised the pioneering work ‘Process Intensification Technology for Greenhouse Emission Control in Power Generation and Industry for Sustainable Fuel Production (PIC-FUEL)’ by Eni Oko, Olajide Otitoju, and Meihong Wang.

The trio was recognised for their pioneering work on PIC-FUEL which was announced on Monday in Lagos as the winners of the 2024 edition of the Prize.

The 2024 competition theme, ‘Innovations and Technologies for Reducing the Effect of Climate Change,’ succinctly underscored the need for urgent solutions to environmental challenges.

According to the chairman of the Advisory Board, Prof. Barth Nnaji, the innovation could significantly reduce harmful emissions from power plants and factories while creating cleaner, greener fuels.

“The technology doesn’t just ensure cleaner air; it also offers significant economic benefits. It could reduce the cost of cutting down emissions by 30-40 per cent, translating to considerable reductions in the national budgetary requirement for implementing the Nigerian Energy Transition Plan, equivalent to $120-140 billion, and achieving the 2060 net zero target.

“Additionally, by producing cleaner diesel locally, the country could save up to $500 million annually in foreign exchange, strengthening the local economy and stabilising the Naira,” he said. He disclosed that the proof of concept of the winning work has been established in the U.K. and Norway.

A panel of judges reached this year’s decision made up of three distinguished Professors in relevant areas of science: Prof. Francisca Nneka Okeke (Chairman), Prof. Saminu Abdulrahman Ibrahim, and Prof. Grace Oloukoi.

Other members of the Advisory Board are Chief Dr Nike Akande, a two-time minister and former president of Lagos Chamber of Commerce and Industry; and Professor Yusuf Abubakar, a professor of Animal Breeding and Quantitative Genetics and the Coordinator of Agriculture Group, R & D Standing Committee, at the Tertiary Education Trust Fund.

Explaining the significance of the groundbreaking work by the three scientists, Prof. Nnaji stated that the PIC-FUEL technology worked by capturing CO2 emissions directly from industrial sources such as power plants, cement factories, and refineries.

He said the emissions are passed through a unit called the Rotating Packed Bed (RPB), where CO2 is absorbed using a solvent and the absorbed CO2 is then converted into methanol through a reaction with hydrogen in an electrolyser machine.  The methanol can then be directly blended with diesel or sold as a product.

In his remarks earlier in the press conference, NLNG’s general manager, External Relations and Sustainable Development, Andy Odeh, lauded The Nigeria Prize for Science and its sister awards, The Nigeria Prize for Literature and The Nigeria Prize for Literary Criticism, for making a significant impact on the science and literary development in the country in the last 20 years.

He thanked the Advisory board for their dedication and exceptional contributions to the Prize’s integrity and elevation to international standards, while paying tribute to former board members and science committees, honouring the the first chairman of the Prize’s committee, late Prof. Umaru Shehu, who was instrumental in conceptualising the Prize and establishing its foundational values of integrity, transparency, and steadfastness.