- Nigeria is one of the countries in the world that heavily relies on revenue from exportation of crude oil
- With this announcement from different countries, Nigeria's crude export, could be seriously affected
There is palpable fear across Nigeria and other oil-producing countries as France begins plans to ban vehicles using petrol and diesel.
The fear stems from the fact that Nigeria could be among one of the worst hit due to its heavy dependence on revenue from the exportation of crude oil.
If the ban is affected, it means oil prices could fall.
The British Broadcasting Corporation (BBC) reports that Nicolas Hulot, the country’s ecology minister, made the announcement and added that France would be banning such vehicles as part of the commitment to the Paris climate deal.
Hulot, who said his country would become carbon neutral by 2050, added: “France has decided to become carbon neutral by 2050 following the US decision.”
The minister expressed belief that French car manufacturers would meet the challenge no matter how difficult it may be.
His comments came at a time the manufacturer of Volvo said by 2019, all its cars would be at least partly electric.
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Currently, Norway and Netherlands are planning to ensure only electric-run vehicles are used in the countries by 2025.
Apart from these countries, India and Germany and India are looking at 2030 to begin their own.
NAIJ.com had earlier reported that the federal government may have lost over N3.8 trillion to shortfall in oil production in 2016 due to militants’ attacks and oil theft in the Niger Delta.
This was disclosed by the minister of petroleum, Dr Ibe Kachikwu in Lagos on Wednesday, May 17, at the Rainoil 20th anniversary lecture.
Watch this video as Acting President Yemi Osinbajo of Nigeria speaks about the country's unity: