Nigeria’s oil and electric cars
By Guardian Exclusive
28 July 2017 |
4:38 am
The rising popularity and falling costs of producing electric cars may halt the high demand for oil from as early as 2020. This is the futuristic forecast by Stanford University economist, Tony Seba.
Related
Related
3 days ago
As we share the resilience and dedication of workers in Nigeria on this dedicated day, GuardianTV shines the spotlight on the pressing issue of fair compensation and also explores some other challenges of workers across the nation. We spoke with Nigerian workers and they reacted to the current 30,000 Naira minimum wage and other issues affecting the workforce.
2 days ago
For many months, the weather all over Nigeria has been relatively hot. Many citizens have complained About the sun during the day, not being able to sleep at night, and wearing skimpy clothes during the day as the sun shone as though it was its last. GuardianTV spoke with Nigerians and professionals about their experiences and how to survive during the heatwave.
3 days ago
Find these stories and much more when you grab a copy of The Guardian on Thursday.
2 days ago
Find these stories and much more when you grab a copy of The Guardian on Friday.
1 day ago
Find these stories and much more when you grab a copy of The Guardian on Saturday.
4 hours ago
Tom Parker-Bowles; a renowned journalist, food critic, and, son of the current Queen of England shares his captivating experiences in an exclusive interview with GuardianTV during his stay in Lagos. Discover his unique perspective on Nigerian cuisine and the unforgettable moments that left a lasting impression. Here is an insightful discussion with one of the world's most distinguished culinary connoisseurs.
Latest
4 hours ago
Kenya and Tanzania brace for Cyclone Hidaya as heavy rains persist. Also, with millions on the brink of famine in Sudan, we speak to an activist monitoring the crisis who shares his concerns about an imminent attack on the city of El Fasher.
5 hours ago
Manila is protesting the "harassment" of Philippine vessels en route to the contested Scarborough Shoal as tensions flare up in the South China Sea.
1 day ago
More than six months after the start of Israel's devastating offensive in response to the October 7 attacks, Palestinian journalists in Gaza continue to pay a heavy price.
1 day ago
According to a UNESCO report, a whopping 70 percent of environmental reporters regularly face threats, attacks and intimidation. Meanwhile, UNESCO awards its World Press Freedom Prize to all Palestinian journalists covering the war in Gaza, who are paying a heavy price for their reporting.
1 day ago
The bus was traveling from a city near the capital, Islamabad, to the mountainous region of Gilgit-Baltistan, near the Chinese border. Road accidents are common in Pakistan due to poor roads and driver training.
1 day ago
Britain's opposition Labour Party won a parliamentary seat in northern England on Friday and control of several councils, inflicting heavy losses on the governing Conservatives to pile more pressure on Prime Minister Rishi Sunak.
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
3 Comments
Actually, this is not the time for Nigeria and other OPEC countries to mourn over crude oil price devaluation, it is a time for them to be very proactive in diversifying their economies. Peak demand for oil as been predicted long before now and the world is currently experiencing its effect. Truth be told, the demand for oil will see a sharp decline sooner than expected as many countries have began to set deadlines to phase out fossil cars. Knowing that Transportation is the sector with the highest oil consumption, a transition from fossil cars to electric cars (not even hybrid cars) will drastically reduce global oil demand. The major silverlining for electric car demand is a falling price of Lithium-ion batteries and rapid improvement in its technology.
There is no time to mourn over a reduction in oil revenue. In fact it hasnt done Nigeria much good. It has only produced corrupt leaders.Our agricultural sector must be developed, it has much prospects for our economy. Nigeria’s position around the equator offers it important climatic advantage and good vegetation for agriculture. This will also boost rural development and rapidly improve living standards of individuals rather than pomp cash into some corrupt hands.
Whatever economic situation Nigeria finds herself, unless she is disciplined and ruled by disciplined rulers, the wealth of the country would still find its way into investments in Europe and America by the ruling class. The imminent end of crude oil as a sole means of livelihood for Nigeria should spur us to give scholarships to deserving Nigerians to go to China and find out how they did it. They did it in one word DISCIPLINE.
I strongly agree! Discipline is just the underlining factor
We will review and take appropriate action.