Bye, bye to oil economy
In my humble submission, we are running a “Feeding Bottle Economy”. Green Economy is the best way to go. A lot of graduates who had never contemplated going into farming or dreamt of becoming farmers are now fully into agricultural activities. Many thanks to the fall in the price of crude oil at the international market.
Professor Darma of the Department of Economics, University of Abuja once said: “In a study conducted it was found that, farmers in Nigeria were between the ages of 50- 60 years old, which meant that if nothing was done, by the next 20 years the farmers would have died or became too old to farm”. Our amiable Professor will now be happy to note that, not only the young people but also University graduates have now embraced farming.
Advanced nations of the world have gone far in their researches on how to switch to “BIOFUEL” at a time when Nigerians are calling themselves “parasites” on “resources” which no one can claim that, it is his effort or innovation or knowledge that brings it to his community, or state or region. In my understanding, it is by divine providence. USA is now making fuel from “corn”, France from “wheat”, China from “sweet potato”, Brazil from “sugarcane” and Malaysia from “palm oil”. Let’s us wake up, if crude oil does not dry up, it will sooner or later become obsolete. The introduction of electronic cars will certainly reduce the consumption of crude oil. It is very clear to some of us that in the next 20 to 30 years, oil would become a faded resource, or at least a less used product.
As long as we continue with a “Feeding Bottle” Economy and or “Spoon Feeding” Economy there will be “agitations” for “Resource Control” and or “Secession”. According to Wole Olaoye, four states of Bayelsa, Akwa-Ibom, Delta and Rivers produced 80% of the crude oil that we shared its money every month while Imo, Abia, Edo, Ondo and more recently Lagos produced the remaining 20%. From the above mentioned, one could argue that only resources from about 8 states of the federation that sustain the country presently. About 80% of the resources that the federal, states and local governments share every month is from the sales of crude oil. The remaining 20% comes from FIRS and Customs Service.
More so, it is sad that out of the oil producing states only Lagos can pay workers monthly salaries without oil money. Oil economy is not the way to go. Agriculture is the way to go. The only time that Agricultural Economy will be irrelevant is the day that every one dies.
Britain will ban the sale of petrol and diesel-fuelled cars from 2040 when all vehicles must be fully electric, The Guardian of UK reported. The ban, like the one in France, is part of the government’s much-anticipated clean air plan. German carmaker BMW immediately announced that it had chosen its plant in Oxford, England as the location to produce an electric Mini from 2019. Earlier, Volvo also announced that all its car models launched after 2019 will be electric or hybrid. A word is enough for the wise! God bless Nigeria! Nurudeen Dauda, Abuja, nurudeendauda24@ gmail.com