Browsing: crude oil

In 2019, the oil and gas industry was responsible for around 5.8% of Nigeria’s real GDP, 95% of its foreign currency profits, and 80% of its budgetary income. www.theexchange.africa

There is still plenty to accomplish. Even after a year, the PIA is still in a transitional period, with committees deliberating its practical implications. One seasoned Nigerian expert questioned how much the NNPC would change due to its transition into a limited liability corporation. Still, post-PIA data suggests that Nigeria’s oil and gas industry may be moving in the right direction.

Despite poor irrigation systems, extreme weather conditions and soil quality becoming the case for wheat importation instead of farming it, countries such as Tanzania and Kenya are amping up their farming systems.

Tanzania’s irrigation area has risen to more than 727,000 hectares from around 625,000 in 2021. The nation has built silos in Burundi, Kenya and Congo, easing up supply and trade of crops across the regions.  Kenya, East Africa’s leading economy and among Africa’s top four in fintech is leveraging modern financial technology to enhance commercial agriculture practices.

Utiliser application is a challenge, and the nation is striving to assist farmers in adapting to new tech by offering subsidies to ensure productivity is restored, while Uganda is striving to level up the playing field for farmers to access and adopt low-cost irrigation and climate-smart agriculture systems. On the same note, it also intensifies the functions of the entire agriculture value chain by empowering small and medium agri-businesses with capital.

Though not an overnight project, Africa can realise the sustainable and relevant adoption of low-cost irrigation and climate-smart agriculture systems, which will arguably transform food production systems and farmers’ economies.

While the world is building off the hype that going green or carbon offsets are the new future, we here in Africa are building a pipeline aimed to continue to destroy the earth. Is it fair then that Africa doesn’t really matter in the grand “reset” of the global order, where western countries and companies are coming to dictate what needs to be done in Africa, as a means to drive profit? Much needs to be considered as we Africans are moving toward building energy economies.

It is the 21st Century, twenty plus years into the new millennium; we are a civilized learned people. We have digitized, gone paperless, our phones are smarter than us and we drive, or rather are driven by electric cars.