It would not be out of place to beam the searchlight on NNPC and its successor, NNPCL. We have a problem that is not going away anytime soon. The four refineries that are owned by NNPCL are old. They were built at least forty years ago. The spare parts may not even be available. Apart from the Dangote Refinery, which has the capacity to refine 650,000 barrels per day, other refineries have opted for modular refineries, which are modelled on the latest technology with appreciable savings in the cost of operations. It is going to be difficult for NNPCL to compete with Dangote in the market for refined products.
As we endeavour to address the future of Nigeria without oil, we must also factor into the equation a global future without oil, with the prospects of a looming expiry date for what we have come to regard as “liquid gold.” As more and more countries insist that the deadline for carbon emissions for cars is 2030, while electric cars (mostly driverless) become the rage, we have no choice but to craft alternative strategies for our survival as a nation.
Read also: Beyond oil: Future without oil (Continuation)
If we are ready to admit to past failures through negligence and neglect, this is the time to proceed from critical failure factors to positive success factors.
We have vast options and fresh opportunities in:
-Agriculture
-Artificial Intelligence [AI] and Technology
-Minerals
-Gas
-Tourism and Creative Industry
-Infrastructure
Of course, we should include the vast potentials available in our seas and oceans—otherwise known as the “Blue Economy”—which ”are yet to be cultivated, harnessed, and harvested by the newly created Ministry of Marine and Blue Economy under the former Governor of Osun State, His Excellency Alhaji Adegboyega Oyetola.
Also, “The Saturday Sun” newspaper yesterday carried on its front page, with bold headlines, the following report: “WITH GOVERNMENT SUPPORT, COTTON, TEXTILE INDUSTRY CAN RIVAL OIL IN SOCIAL IMPACT.”
Ms. Ololade Majekodunmi (National Coordinator, Nigeria Cotton Society).
Read also: Beyond oil: Repositioning human capital as Nigeria national strategy to access global platforms
Furthermore, we are entitled to a grave sense of awe and shock over grievous waste and monumental recklessness signposted by last week’s front-page headline in the “Business A.M.” newspaper:
“NIGERIA REQUIRES N18 TRILLION TO RESTORE SCRAPYARD OF ABANDONED BUILDINGS”
“But ROI (Return On Investment) could boost GDP by US $200 million annually.”
“In a sad reality, Nigeria’s cities and towns are plagued by abandoned construction sites, with different abandoned projects, including houses, schools, churches, offices, and malls, among various other buildings collectively worth billions of naira, littering various parts of the country.”
