Nigeria In Trouble As Biggest Car Market, China Plans To Ban Production And Sale Of Petrol Vehicles

The world’s biggest car market, China, is now planning to ban the production and sale of diesel and petrol vehicles, further threatening the future profitability of oil — Nigeria’s major revenue source.

 
BBC reports that the development is coming two months after the UK, like  Germany,  France, India, Norway and Netherlands, revealed plans to ban fuel-run cars, as part of efforts to reduce air pollution.
 
The ban will lead to a reduction of oil demand in China, as the country is currently the world’s second-largest oil consumer after the United States, US.
 
China wants electric battery cars and plug-in hybrids to account for at least one-fifth of its vehicle sales by 2025.
 
Xin Guobin, China’s vice industry minister, said it had started “relevant research” but that it had not yet decided when the ban would come into force, according to BBC.
“Those measures will certainly bring profound changes for our car industry’s development,” Guobin told Xinhua, China’s official news agency.
 
China made 28 million cars last year, almost a third of the world’s total production.
 
Chinese-owned carmaker Volvo said in July that all its new car models would have an electric motor from 2019.
 
Geely, Volvo’s Chinese owner, aims to sell one million electric cars by 2025.
 
Other global car firms including Renault-Nissan, Ford, and General Motors are all working to develop electric cars in China.

Posted: at 11-09-2017 10:35 AM (6 years ago) | Addicted Hero

it concerns our oil profits, once china does this and china has nothing to gain from oil, it will cause a ripple or cascading effect, where the profit of oil will no more be important

Posted: at 11-09-2017 11:31 AM (6 years ago) | Gistmaniac

NIGERIAN SHOULD BETTER GO AND RE-STRATEGIZE...IN 2020, PETROL DRIVEN CARS WILL GO IN TO EXTINCTION

Posted: at 11-09-2017 12:18 PM (6 years ago) | Hero

if Saudi Arabia(who produces and exports oil far more than any other country in the world) and the United states(who's citizens consume gas/petrol more than everybody else) survives this, then am sure Nigeria and Nigerians will survive it too


.....Nigerians have always been known for their enviable ability to adapt

Posted: at 11-09-2017 01:07 PM (6 years ago) | Gistmaniac

No Be Small Trouble Be Dis O.Na Im Be Say Na We Go Dey Drink Our Petrol By Ourselves.Baba God Abeg Helep Us.Amen.Nawaa O!

Posted: at 11-09-2017 09:08 PM (6 years ago) | Gistmaniac

This is serious ooooo..... make I just dey waka pass..... abeg I dey waka pass, I will come and comment later.
This one weak me ooooo, well life must goes on.
I dey waka come bare

Posted: at 24-09-2017 05:34 PM (6 years ago) | Hero