Nigeria’s Oil Revenue To Plummet As UK Set To Ban Petrol Vehicles By 2030

SAN FRANCISCO, November 18, (THEWILL) – Nigeria’s oil revenue would experience a drop as UK Prime Minister Boris Johnson has declared that new cars and vans powered by petrol and diesel will not be sold in the UK from 2030.

According to the BBC, Johnson said it is part of “a green industrial revolution” to tackle climate change and to create jobs in his 10-point plan which seeks to accelerate the transition to electric vehicles and investing in grants to help buy cars and charge-point infrastructure.

The plan also includes producing enough offshore wind to power every home, developing the first town heated entirely by hydrogen by the end of the decade, provision for large nuclear plant and developing the next generation of small and advanced nuclear reactors.

The plan is aimed at putting the UK on track to meet its goal of net-zero emissions by 2050 and to create 250,000 jobs.

It also includes making buildings greener, warmer and more energy-efficient, and installing 600,000 heat pumps (low-energy electrical devices for warming homes) every year by 2028 as well as making cycling and walking more attractive ways to travel and investing in zero-emission public transport for the future.

“My 10-point plan will create, support and protect hundreds of thousands of green jobs, whilst making strides towards net-zero by 2050,” Johnson reportedly said.

“Our green industrial revolution will be powered by the wind turbines of Scotland and the North East, propelled by the electric vehicles made in the Midlands and advanced by the latest technologies developed in Wales, so we can look ahead to a more prosperous, greener future.

Nigeria, which relies heavily on the revenue generated from crude oil exports, will be affected by the development as European countries are the largest importers of Nigeria’s crude oil.