ENERGY MATTERS: Why the Nigerian Economy Can No Longer Rely On Oil And The Dark Future Of Power Generation in The Country (Part 1)
The Netherlands, one of Europe’s strategic country is set to outlaw all fossil fuel emission vehicles by 2025. This is less than 8 years from today source.
In actual fact, all emission cars are to be banned in order to give way to electric vehicles across the country starting with trains. Aside from the Dutch nation which is quite vast in renewable energy to generate electric power also be actively expending renewable to bring about a major reduction in carbon emission in line with Paris Climate Change Accord. There are several other countries like the Netherlands and before long the major economies of the world from the G-8 to the G-20 or even the brisk nations would no longer require the supply of fossil fuel from any oil-producing nation of the world- a league where Nigeria currently participates.
THE END OF THE 'OIL ERA'
While the entire world prepares for the end of the ‘oil era’ as we know it, we are at a loss as to Nigeria’s preparedness towards the looming reality especially as government officials in Nigeria carry on as though all is super well and the economy is secured for say another century.
World’s largest oil producers Saudi Arabia is already awake to this looming paradigm shift in global economy structure and has strategically initiated a plan which prepares the country for the end of the crude oil era. source
QUESTIONS ARISING
Now, with all the options available for a country like Nigeria, what should the government of today be doing in preparation for this looming change?
With the oil rich Niger delta still in a lamentable state after over sixty(60) years of oil production- what is the future for the region if oil demand ends today?
Why is Nigeria’s investment in renewable energy in the generating and bringing the much needed electricity to its citizens seemingly on the super low?
All these will be addressed in subsequent posts. Stay tuned!!!