The Oasis Reporters
December 29, 2023
Introductory note by Greg Abolo
A young Nigerian academic currently in Uganda was asked a question when he visited Nigeria for the Christmas holidays and he said that electricity in the entire East African country of Uganda hardly ever blinks in places that are on the grid. They practically take electric supply for granted.
A few weeks ago, neighboring Kenya experienced a power outage for 12 hours and Kenyan citizens were practically howling all over X, formerly known as Twitter.
“ What”, “were they planning to turn Kenya into a country like Nigeria or South Africa where power outages remain the norm” ?
This is the silent shame that crestfallen Nigerians carry in their subconscious. That a leading fossil fuels producer cannot supply electricity to its citizenry due to endemic corruption and lack of willpower to tackle the problem head-on.
Nigeria has crude oil and it is a global supplier.
Read what Professor Ndubuisi has to say:
“In the last ten centuries, China has recorded the world’s largest economy at least 7 times. Before the effervescence of the United Kingdom and subsequent ascension of the United States in late 1890s as the global economic leader, China and India ran the show.
The trajectory seems to be on course again for China. In the latest ranking of Fortune Global 500, Greater China, including Taiwan, recorded 142 companies to the United States’ 136. No other country broke 45 companies. Simply, the world economic race is largely between America and China.
Looking deeper, one can see a huge repositioning by China even in the elective vehicle space: “In a seismic shift within the electric vehicle (EV) industry, China’s BYD Co. is on the cusp of overtaking Tesla Inc. as the global leader in fully electric vehicle sales, signifying a monumental turning point in the automotive industry.”
To many people in the developing world, China is likely going to be the provider of their future vehicles because China has better comparative advantages over Japan, Korea, and the United States, when it comes to making electric vehicles.
Yes, the competitor that Elon Musk has to worry about may not be Detroit car makers but a Chinese brand.
As that happens at a very fast pace, Nigeria has to watch those oil wells, and how far they could continue to power their transient relevance, because a global shift is just around the corner.
Prof Ndubuisi Ekekwe.