Skip to main content

Climate Change: Profitable Oil Wells Threaten Nigeria's Switch To Clean Energy

As the world seeks cleaner alternatives to fossil fuel with the aim of halting climate change in its tracks, Nigeria's contemplation flickers, torn between giving up the stupendous fortunes of the liquid gold and charting a new path for a sustainable future. 

This dilemma is thickened by the fear of the unknown. Crude oil accounts for over 95 per cent of Nigeria's export earnings and about 40 per cent of government revenues, according to the International Monetary Fund. Despite attempts at diversifying the economy to areas such as agriculture and entertainment, the country still depends on it's oil wells for sustenance.

Will Nigeria lose it's coveted revenue source by phasing out the production and use of fossil fuel?

Nigeria's oil according to BudgIt is set to run out in 45 years. Based on proven oil reserves of 37 billion barrels and daily oil production of 2 million barrels, Nigeria's oil will run out. 

This coming apocalypse presents the country of 200 million people with the opportunity to create what climate activist, Peter Thorley, describes as "a model 360 turnaround" which can serve as a template for transition from fossil fuel to cleaner and climate friendly alternatives.  

"Nigeria is a unique situation because it has a young population in tune with the times, the geography is friendly for creating sustainable alternatives and my projection is that Nigeria can make N11trn from solar energy and wind farms alone," says Thorley. 

He adds that Nigeria, "Has a large population and economy run on generators which pollutes the environment with carbon monoxide and noise. 

"Imagine what people will pay for a cleaner and more quite alternative. And this does not even include mini grids which locals can use to sell power to neighbouring countries like Benin Republic or Cameroon."

For Ummi Dadi, who owns a solar business, expected revenue from greener sources peaks at N14trn.

"I say Nigeria will make nothing less than N14trn yearly from renewables. 

"All we need is the political will to start exploring this fallow Eldorado," he said. 

The numbers are high, compared to the N9.4trn Nigeria made in 2018 from crude oil sales. 

Beyond the numbers, projected revenue and possibilities for Nigeria, the country's fingers still drips in unsustainable use and sale of oil. In order to tap into the possibilities, Nigeria must show real commitment in planning a sustainable yet profitable future for its 200 million citizens.

This article was written with the support of Climatetracker.org as part of the 2019 Climate Tracker Data Journalism Fellowship

 

Oil News Reports AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 

from All Content
via

Comments

Post a Comment

Popular posts from this blog

These funny food quotes will make you laugh like crazy

Food is not only an essential part of the daily routine but also the most exciting one. We cannot imagine our life without something yummy. How do you make ordinary eating fun and unforgettable? We bring to your attention amazing food quotes which will definitely make you smile. Image: unsplash.com (modified by author) Source: UGC Are you looking for interesting ideas to entertain your interlocutor while having lunch at work or family dinner? Then this article is definitely for you! Good food quotes Below are food quotes, aphorisms and witty statements. This is an exciting and extraordinary collection of the top "pearls of wisdom" on this topic. Here you can find funny jokes and sayings, intelligent thoughts of philosophers and original words of great thinkers and inspiring statuses from social networks, as well as many other things. The best appetite comes without food. I love calories. They are dаmn tasty. An empty stomach is the Devil's playground. Have bre
Post a Comment
Read more

The Transitional Phase of African Poetry

The Transitional Phase The second phase, which we have chosen to call transitional, is represented by the poetry of writers like Abioseh Nicol, Gabriel Okara, Kwesi Brew, Dennis Brutus, Lenrie Peters and Joseph Kariuki. This is poetry which is written by people we normally refer to as modem and who may be thought of as belonging to the third phase. The characteristics of this poetry are its competent and articulate use of the received European language, its unforced grasp of Africa’s physical, cultural and socio-political environment and often its lyricism. To distinguish this type of poetry we have to refer back to the concept of appropriation we introduced earlier. At the simplest and basic level, the cultural mandate of possessing a people’s piece of the earth involves a mental and emotional homecoming within the physical environment. Poems like Brew’s ‘‘Dry season”, Okara’s “Call of the River Nun”, Nicol’s “The meaning of Africa” and Soyinka’s “Season”, to give a few examples,
Post a Comment
Read more

The pioneering phase of African Poetry

The pioneering phase We have called the first phase that of the pioneers. But since the phrase “pioneer poets” has often been used of writers of English expression like Osadebay, Casely-Hayford and Dei-Anag, we should point out that our “pioneer phase” also includes Negritude poets of French expression. The poetry of this phase is that of writers in “exile” keenly aware of being colonials, whose identity was under siege. It is a poetry of protest against exploitation and racial discrimination, of agitation for political independence, of nostalgic evocation of Africa’s past and visions of her future. However, although these were themes common to poets of both English and French expression, the obvious differences between the Francophone poets and the Anglophone writers of the 1930s and 1940s have been generally noted. Because of the intensity with which they felt their physical exile from Africa, coupled with their exposure to the experimental contemporary modes of writing in F
Post a Comment
Read more