Harnessing Green Energy In Nigeria Through Economic Growth
Nigeria has been making news lately for their renewable energy resources. Their wealth of renewable resources depends upon economic growth in harnessing coal and oil. Nigerian mining is about to take a large step of progress and begin mining resources as no time before. With its huge deposit of vitamin resources as a country the director has given his stamp of approval on the move forward for mining operations. Nigeria was the tenth largest producer of oil in 2005 and having been a member of OPEC since 1971 the future is bright for their exports becoming extensive and their economy enjoying a hefty growth as the low compertition resources are finally unearthed for the taking.
Being the sixth largest oil rich nation they are now passing a bill that will enjoy priority and hopefully a quick passing for the country into law because of the importance to the economy of Nigeria. This bill is designed to put a structured format into petroleum for Nigeria including legal and regulatory and money operations. This gas and oil rich country has seen shortfalls in its petroleum due to these particular issues with production. However now that there will be an obligation to its production of petroleum the world should see more coal and oil being cut down and produced with expediency and consistency. With this inflow of regulatory changes to the legal and financial sectors of the Nigerian government it looks to be a profitable arrangement for OPEC. For Nigeria this will widen the market and improve their business end of trade.
Nonrenewable sources such as coal and oil have become the main economic dependancy of the country and now with operations moved up to my very own these resources with two forces inside the country they can now synergize and mobilize one forceful push for the economic status of the country. With modern technology on their side they can begin the wealth gaining process that this country is capable of. Nigeria is relatively a new frontier because it has barely tapped its resources and can soon begin doing just this with technological speed and efficiency.
Shale oil is just one aspect and they can develop it at $24-$30 (USD) per clip or barrel where the normal price to produce is $50-$70 per clip or barrel (USD) with such a great price on oil production they could become one of the leading producers with demand outweighing supply. With no competition they can support and begin to move forward.
Nigeria is vitamin rich and has low compertition capability for other naija newsnow mining efforts and if they are finally allowed to spotlight the whole picture of mining for their country they could become one of the most wealthy nations in the world. With this kind of potential laying unblemished while coal and oil need to be regulated they will face little challenge in getting started using each of their capability as they go into rich history of mining and structure on that mining and its end result with the production of coal and oil for the world.
There is compelling need to change the laws as they exist or do not exist so that people can be held accountable for their actions and the country will start to profit slightly from renewable resources. If they can sometimes a constant state of production they could learn to give you access to renewable resources such as solar, wind and water power and begin to harness the amazing ability of green energy. Harnessing green energy could mean that a country full of low income will begin to have unending resources for many years to come.
Azees Ishola is an author and online tumblr on various topics like jobs, energy news & relationships. Energymixreport is Africa’s leading news source with publications covering coal and oil industry for business, renewable energy, environmental and government news.