Acting President Yemi Osinbajo on Monday
declared that the days in which no single
revenue would be generated from crude oil
were fast approaching.


Osinbajo, who spoke at the Extra-ordinary
Session of the Council of Ministers of the
African Petroleum Producers Organisation in
Abuja, noted that technology was fast
depleting the usefulness of crude oil .

He said, “ This session holds at a very
significant time for our continent and
countries. A time when we as a continent and
indeed the rest of the world are witnessing
volatility in the petroleum market, and by
implication, our local economies.

“ Over the last three years or so, oil producing
countries across the world have experienced
the full impact of the drop in oil prices with
significant negative impact on government
revenues and budgets and on the value of
national currencies .

“ Almost every major oil importing country
today has embarked on an aggressive non-
fossil fuel alternative programme . China,
Japan and some Scandinavian states have
already set dates within the next 10 to 15
years to produce and use only electric
vehicles . The zero oil days are clearly around
the corner .”

Osinbajo noted that although the prosperity
of Africa lies in its human resources and
talents , and not in anything extracted from
the earth, it was still important to upgrade to
the trending technologies across the globe.

“ As the world begins to move in the direction
of alternative and clean energy , the reform of
the APPO should factor in these new realities
and aim to reposition the organisation as a
clear leader in this regard ,” he added.

The Minister of State for Petroleum
Resources , Ibe Kachikwu , had earlier in his
address buttressed the acting President’ s
points , as he noted that crude oil was at the
verge of fading away as a result of
improvements in technology.

Kachikwu said , “ Technology is moving at a
fast pace. The oil world is fast disappearing .
With current trends in technology and
environmental concerns, it is clear that over
the next 20 to 30 years, oil will become a
fading if not a faded product.

“ Which means that most countries that
harbour oil have only about 30 years’ span to
harness, explore, find and enjoy the full
benefits of oil. Because after that, most
consumers of oil would have moved on to a
cleaner source of energy .”

He told ministers and delegates from other
countries that it had become absolutely
imperative for member countries of the
APPO to start looking at the African crude oil
market and to fashion out ways of protecting
and expanding it .

http://punchng.com/zero-oil-revenue-days-fast-approaching-says-osinbajo/

OUR NORMAL ATTITUDE OF TALKING AND DOING NOTHING.

OUR LEVEL OF IGNORANCE IS NAUSEATING.

THE MINISTER OF PETROLEUM MR IBE KACHIKWU HAS TOLD US THAT OUR OIL RESERVES WOULD DRY UP BEFORE 30 YEARS.

I EXPECTED THE NIGERIAN GOVERNMENT TO ENCOURAGE MASSIVE RESEARCH ON ALTERNATIVE ENERGY.

THE NIGERIAN GOVERNMENT SHOULD FUND THE UNIVERSITY OF TECHNOLOGIES, COLLEGE OF TECHNOLOGIES ETC FOR THEY ARE THE BASICS OF SUCH ACCOMPLISHMENT. BUT NEVER WOULD THEY DO THAT!

IMAGINE IF THEY PARTNER WITH INNOSON VEHICLE MOTORS (IVM) TO IMPROVE RESEARCH ON ALTERNATIVE ENERGY?

RUBBISH!

INSTEAD THEY TALK AND TALK...

INSTEAD, THEY ARE GOING TO ENGAGE THE MAJOR STAKEHOLDERS.

OTHER COUNTRIES ARE FAR FAR AHEAD OF US.

HOW MUCH IS THE GHANE CEDI TO NIGERIAN NAIRA?

EVEN GHANA'S KANTANKAS VEHICLES COMPANY HAVE RECORDED A BREAKTHROUGH IN THAT REGARDS, THEY NOW HAVE AN ELECTRIC VEHICLE.

How will the Niger Delta survive this?

Let it come faster

Let us rest abegi

Ehiscotch:
How will the Niger Delta survive this?

It will reset a lot of Brain

sarrki:

It will reset a lot of Brain

LOL. Especially that of our leaders. They ought to quit depending on oil allocations. But the ND would suffer the most.

CC LALASTICLALA

after using ND oil...they will dump them like piece of rag...destroying their water and land..

sekxy:
after using ND oil...they will dump them like piece of rag...destroying their water and land..

How have the ND helped themselves?
Yes. The government(S) have failed them but they have also shot themselves in the foot by continuously defending looters from their region and failing to hold them accountable.

A new world is coming!

cjrane:
Lies from the pit of Hell!

The Nigerian government is drilling more oil wells in the Delta and polluting the area. May militants just save the land by destroying those wells and pipelines polluting our lands,

Dude. Did you just read what you posted?
If the bombing continues your land would be polluted even further.
Your water, the air you breathe will be contaminated.
I do not care whether you or anyone likes it but we have to diversify for so many reasons but it doesn't mean we should abandon oil.
It just should not be our only or major source of revenue.
In years to come the Niger Delta region would become infertile if those militants do not stop and the government do not desist from extorting and cheating the region.

Ehiscotch:
How will the Niger Delta survive this?

u
The question is, how will your family survive this. Because it is this oil that put food on your table
It is this oil that is keeping buhari in London.
It is this oil that makes Nigeria better than togo.
It is this oil that is keeping Nigeria as one.
It is this oil that gave you the data you are using presently.
Heaters gonna hate.
Yorubas has noting. They are the same as Benin republic.

beamtopola:
u
The question is, how will your family survive this. Because it is this oil that put food on your table
It is this oil that is keeping buhari in London.
It is this oil that makes Nigeria better than togo.
It is this oil that is keeping Nigeria as one.
It is this oil that gave you the data you are using presently.
It is the oil that is making Kanu include Niger Delta as part of Biafra
Heaters gonna hate.
Yorubas has noting. They are the same as Benin republic.

Oil has been a curse to this country.
Where we not better as a country without oil?
How was the strength of the Naira before oil?
Where we not better off than Togo and other African countries?
The oil you have been ranting about would soon be a thing of the past.
Every nation is moving away from oil.

Ehiscotch:

Oil has been a curse to this country.
Where we not better as a country without oil?
How was the strength of the Naira before oil?
Where we not better off than Togo and other African countries?
The oil you have been ranting about would soon be a thing of the past.
Every nation is moving away from oil.

Tell me one country that its moving away from oil and I will tell you a 100 country that moving into oil.
Oil is what is keeping Nigeria in unity.

beamtopola:

Tell me one country that its moving away from oil and I will tell you a 100 country that moving into oil.
Oil is what is keeping Nigeria in unity.

OMG. I do not need to educate you further.

www.businessinsider.com/citi-the-world-is-moving-away-from-oil-2013-3?IR=T

www.bbc.com/news/world-middle-east-36131391

The UAE, The Saudis. Most middle eastern countries are moving away from oil and you are here posting nonsense.

The non oil producing nations are finding substitutes to oil.
Try not to remain ignorant and parochial.
NOW GIMME THE 100 Countries.

www.cnbc.com/2017/03/18/oil-is-flat-and-these-five-crude-dependent-countries-need-a-break-to-the-upside.html

Ehiscotch:

OMG. I do not need to educate you further.

www.businessinsider.com/citi-the-world-is-moving-away-from-oil-2013-3?IR=T

www.bbc.com/news/world-middle-east-36131391

The UAE, The Saudis. Most middle eastern countries are moving away from oil and you are here posting nonsense.

The non oil producing nations are finding substitutes to oil.
Try not to remain ignorant and parochial.
NOW GIMME THE 100 Countries.

www.cnbc.com/2017/03/18/oil-is-flat-and-these-five-crude-dependent-countries-need-a-break-to-the-upside.html

Saudi total government spending depends on oil.
The Saudi prince even warned trump on not to sabotage the relationship they have with usa in terms on oil selling.
All jets and helicopter use parafin as it fuel. Where do you think this parafin comes from?
All government officials cars in this world make use of petrol, where do you think this petrol come from.
All government houses in Nigeria make use of generator, where do you think the petrol comes from.
Even in your house I believe d you have a generator and more, what do you use to power them.
Pls stop this hypocrisy!

Pastor abeg park well...

If u are serious on this, then stop selling NDELTANS Oil Now. Just let referendum be in the constitution.
Africa will continue to consume crude oil till the next 100 years and beyond. We are a dumping ground from the first world.
Ordinary 10000MW to power the industrial cities for the last 100yrs we no fit generate na high tech economy we go come get shapally??

Abeg Park joor

When that day comes the only thing that will pain me is that Most oil producing community citizens and their communities in general did not benefit much from their God given resource.

beamtopola:

Tell me one country that its moving away from oil and I will tell you a 100 country that moving into oil.l
Oil is what is keeping Nigeria in unity.

Exactly.

The south must STOP THAT OIL FLOW NOW!

Unity cannot always be at our expense. We need resource control NOW

beamtopola:

Saudi total government spending depends on oil.
The Saudi prince even warned trump on not to sabotage the relationship they have with usa in terms on oil selling.
All jets and helicopter use parafin as it fuel. Where do you think this parafin comes from?
All government officials cars in this world make use of petrol, where do you think this petrol come from.
All government houses in Nigeria make use of generator, where do you think the petrol comes from.
Even in your house I believe d you have a generator and more, what do you use to power them.
Pls stop this hypocrisy!

Bro. Don't be unreasonable.
I said they are "moving away" from OIL .
Do I still need to explain what the phrase means?
If you took out time to click on the links and read the articles you'd find out that the Saudi government has laid out plans to diversify its economy from oil.

sarrki:


It will reset a lot of Brain

So u r happy to deplete ND's resource? The northern elite are the no 1 losers

Desyner:
So u r happy to deplete ND's resource? The northern elite are the no 1 losers

The North won't lose. Oil has been discovered all over the North and they won't repeat the same mistake as the ND.

Ehiscotch:

The North won't lose. Oil has been discovered all over the North and they won't repeat the same mistake as the ND.

What oil? I pity ND mumus.

Desyner:
What oil? I pity ND mumus.

Don't worry.
Doon nobody will be in doubt that we are not mumus.

I've been saying it

Ehiscotch:

How have the ND helped themselves?
Yes. The government(S) have failed them but they have also shot themselves in the foot by continuously defending looters from their region and failing to hold them accountable.

Every tribe in Nigeria is guilty of defending their corrupt tribesmen. It's not just SS alone.

@ Topic, the leaders and militants in SS region are imbeciles. Stop the oil flow now and discuss about your oil share. Force the FG to the discussion table now because once oil stops flowing it'll be to your tents o Israel.

Ehiscotch:

How have the ND helped themselves?
Yes. The government(S) have failed them but they have also shot themselves in the foot by continuously defending looters from their region and failing to hold them accountable.

Because the looters in their region wS the only people who made the money touch the common man.
But we still have LNG and Nigeria is a top producer too.