Nigeria in trouble as UK bans petrol and diesel cars and vans from 2040

Britain is to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide pose a major risk to public health.

The commitment, which follows a similar pledge in France.

The announcement will pile more pressure on the price of crude piling more stress on the economy of oil exporting countries including Nigeria.

Oil price has continued on a free fall since 2015 and current price stands at $48 per barrel by Tuesday.

The implication for a Nigerian economy which runs mainly on a single commodity is dire.

95% of foreign exchange earning is tied to oil and with shortened revenue in dollars terms, the Naira will be under continuous pressure.

As the value of the Naira continues despite devaluation, Nigeria will earn less revenue from oil and gas exports and imports of household items will be more expensive, with the burden passed on to Nigerians.

The UK government warned that the move, which will also take in hybrid vehicles, was needed because of the unnecessary and avoidable impact that poor air quality was having on people’s health.

France will end sales of petrol and diesel vehicles by 2040 as part of an ambitious plan to meet its targets under the Paris climate accord, Emmanuel Macron’s government has announced.

Volvo has said it would only make fully electric or hybrid cars from 2019 onwards, a decision hailed as the beginning of the end for the internal combustion engine’s dominance of motor transport after more than a century.

Norway, which has the highest penetration of electric cars in the world, has set a target of only allowing sales of 100% electric or plug-in hybrid cars by 2025.

Other countries have floated the idea of banning cars powered by an internal combustion engine to meet air quality and climate change goals.

The Netherlands has mooted a 2025 ban for diesel and petrol cars, and some federal states in Germany are keen on a 2030 phase-out.

India, where scores of cities are blighted by dangerous air pollution, is mulling the idea of no longer selling petrol or diesel cars by 2030, and said it wants to introduce electric cars in “a very big way”.

Bloomberg New Energy Finance predicted electric cars would come to dominate the automotive market more quickly and dramatically than previously thought.  

Electric vehicles will make up 54% of all light-duty vehicle sales by 2040, up from the 35% share.

www.elombah.com

For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook