Because facing a baby monster today is preferable to facing an adult one tomorrow.
Nigeria is experiencing one of its most difficult moments in history. The lower price of oil is causing all kinds of discomfort for the government, exposing the decades-long inefficiencies of the country’s managers, and leading people to ask questions in situations where a mere grumble would suffice.
It is also reminding Nigeria and its politicians of the stark reality: that Nigeria is not a rich country. More than 60% of its citizens are actually piss-poor and cannot afford to eat three times a day.
Without the discomfort of oil prices, people would not have been pushed to discover more than N660 billion in frivolous expenses hidden somewhere in the budget.
If oil miraculously recovers and Nigeria escapes the crises today without ringing the much-needed changes by weaning itself from oil, the country might not survive the next energy related crises.
What will be the next energy-related crises?
A world that does not need oil.
More than at any point in history, there is genuine fear about the worsening state of the environment. And this has led to increased fervor in quest for cleaner, renewable energy. And interesting advances are being made.
At the Consumer Electronics show (CES 2016) which held in January, the headliners weren’t all about the usual mobile, Internet and tech giants like Apple, Google, etc. Rather the buzz was about an impending new era in the field of transportation.
General Motors, a centuries old vehicle manufacturing company and one of the largest in the world displayed its Chevrolet Bolt.
Why should you give two hoots about this?
The Chevy Bolt is the first affordable and practical electric vehicle with a range that is attractive to the buyers of traditional combustion engine cars – 200 miles.
The vehicle is being significantly subsidized (at $30,000), by the US government, so that it comes cheaper to the customers, and they can adopt it quickly.
It is highly significant that cheap mass-market electric vehicles are entering the market. Note that other mass-market vehicle producers will not be far behind General Motors in entering this market.
Previously, the grouse with electric vehicles had been that they were too expensive, and only meant for the rich. But with the average Joe being able to afford an electric vehicle, new times are definitely upon us.
With this new development, added to fact that Tesla gave up its patents for free to encourage growth in the EV industry, and Musk’s battery gigafactory coming onstream in the near future, a watershed moment in the history of transportation is in the making. This will play a role in the future trend of energy demand.
The electric vehicles are coming, and the future of oil is not bright, and Nigeria had better be prepared for this.
Image credit Autoblog