From 2020 the United States will export more Oil & Gas than it imports: Which way Nigeria?

Next year, the US will export more energy than it imports. That hasn't happened since 1953. The United States, has been long dependent on  foreign oil but that will end next year as the country has lifted a ban it placed on itself on energy export.

According to forecasts by Energy Information Administration, the United States is likely to be a net energy exporter till 2050.

How does this affect Nigeria?

The United States is the second largest buyer of Nigerian oil & gas. But after this year, it will change.

To further make our case worst, China is no longer buying tangible crude from Nigeria. Infact China is no longer in the top 5 buyers of Nigerian crude. The reason is because China is capturing many islands along the south China  sea etc and focusing on offshore drilling.

Today, India is the largest buyer of Nigerian crude oil. However, during the last visit of President Modi of India to the United States, Donald Trump told him that for the U.S and India to continue enjoying military and defense cooperation, that India must start buying oil & gas from the United States.

This is to say that India our current largest buyer may drop us too.

Dubai largely known as an oil giant had long diversified. Today, revenues from oil and natural gas account for less than 5% of the emirate's revenues. Real estate and construction (22.6%), trade (16%), entrepôt (15%) and financial services (11%) are the largest contributors to Dubai's economy.

Saudi Arabia, known for nothing else but oil, under the leadership of the crown prince, Mohammed bin Salman is focused on nothing else but to diversify the economy away from oil by 2030.

What is Nigeria doing? Nothing!

Buhari failed economically when he renegade on his promise to Restructure.