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Nigeria: Very Soon, Nigeria Will Have to Drink Her Crude Oil - Ezekwesili
This Day, 4 October 2017
Former Vice President of the World Bank, Africa Division, Oby Ezekwesili, yesterday said Nigeria's continued grip on crude oil as her economic mainstay would soon come to an end. Read more »
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Nigeria: Pressure On Nigeria As the World Turns Away From Oil
Premium Times, 24 September 2017
It may assault sensibilities of some people to insinuate that Nigerians will have to drink their oceans of oil, as it may be unscientific to suggest that the resource will dry… Read more »
Should Nigeria Be Worried As the World Turns Away From Oil?
The rate at which major oil consuming countries are setting deadlines for the use of the commodity spells doom for any oil economy. Sooner than later we would be asking ourselves what we did with all that oil, writes Bisi Daniels for the Premium Times.
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Nigeria: Nigeria Records Rise in Non-Oil Export
Daily Trust, 25 September 2017
Nigeria has recorded a significant rise in its non-oil export, with agricultural goods increasing the country's foreign exchange earnings. Read more »
InFocus
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Vice President Yemi Osinbajo has asked the people and investors in the Niger Delta region to make effective use of the proceeds from oil, saying the product may soon become unprofitable. Painting a gloomy future of oil in the Niger Delta area of the country, Osinbajo said; "Many countries are getting alternatives to oil, the development which would make the resource unprofitable in a few years.
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China, which is one of Nigeria's biggest customers will drastically cut down on oil if the ban goes through. The move would follow similar plans announced by France and Britain to outlaw the sale of petrol and diesel cars and vans from 2040 in order to clamp down on harmful emissions.
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Britain is to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide pose a major risk to public health. This move will have an impact on oil-producing countries like Nigeria where just in the first quarter of 2017, 2 million barrels of oil were imported by the UK and since May 2016, over 31 million barrels had been shipped to the UK.
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