West Africa: Oil and Fuel Prospects for Smaller Nations, Implications for Nigeria

Abubakar Hashim

Nearly all West African international locations, from Mauritania, Cote D’Ivoire, Sierra Leone, Liberia, to Ghana and others, all within the Gulf of Guinea axis, have developed oil and fuel explorations. By 2027, all these international locations will improve three fold their oil outputs.

Implications for Nigeria

1. Inhabitants

Nigeria’s inhabitants is explosively rising, although the nation is quick growing extra oil wells within the north. The distribution of wealth will probably be an enormous drawback years forward for Nigeria

2. Smaller countried like Sierra Leone, Liberia, others, will probably be positioned at advantageous place if the oil wealth is correctly managed by these international locations

3. Insecurity

West Africa, particularly the Sahel is now engulfed in crises. Farmers now not go to farms. Costs of meals stuffs are sky rocketing. Therefore, the navy is now strategising to supply navy escort to farmers in Nigeria, whereas farmers in different West African international locations go to farms with ease.

Within the subsequent 12 months or two, these smaller international locations will probably be meals adequate domestically, with costs going downward

The present navy escorts to farmers are the one viable steps by the Nigerian authorities to advertise meals safety and scale back costs domestically.

The oil and fuel prospects for the smaller international locations, with stability in meals manufacturing, are imminent menace to Nigeria .

The Tinubu authorities is conscious of this present growth. Therefore, present steps to counter theses imminent threats are ongoing, in view of the explosive inhabitants of the nation . By the estimation of the Tinubu authorities, meals inflation will go down in few months.

West Africa will see a progress charge because of huge progress in oil and fuel manufacturing, coupled with rise in meals manufacturing because of non-public sector funding in it.

*Abubakar Hashim is the NEWS Journal West Africa Bureau Chief, based mostly in Sierra Leone

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