Tuesday, July 27, 2021

    Letter: Nigeria’s oil sector should seek homegrown solutions

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    From Angus Downie, Vienna, Austria

    David Pilling (“Making chocolate can give Ghana a taste of success”, Opinion, June 4) made several good points and, more importantly, highlighted the need to add value to manufacturing in order to capture more revenue.

    However, I nearly choked on my chocolate bar when I read that Nigeria exports crude oil only to reimport refined fuel and heating oil from Europe, highlighting the neocolonial trading relationships it is locked into.

    If the state-owned oil refineries were able to operate effectively, this would significantly reduce the need to import refined products.

    If gas flaring was reduced and instead was harnessed as feedstock for electricity generation, this too would be beneficial on many levels. While Nigeria faces challenges in levelling the global trade “field”, implementing some homegrown solutions (as many Nigerians advocate) to capture more value is probably more helpful in understanding the situation.

    Angus Downie
    Vienna, Austria

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