Browsing: Opinion

The Nigerian economy was once described as a “voodoo” economy, “the more you look, the less you understand” as it defies all kinds of known remedies. The mystery of Nigeria as a nation is not limited to its economy but includes socio-political and cultural dispositions. Longtime ago, western pundits postulated, hypothesized, and predicted the disintegration of Nigeria by the year 2015. Time has since revealed their empty prediction; regrettably, however, the nation is still sliding into the abyss of squalor and poverty, exacerbated by the population explosion – a kind of time bomb that must not be allowed to detonate. 

In a recent editorial for the Washington Examiner, African Energy Chamber Executive Chairman NJ Ayuk labelled Environmental Social Governance (ESG) as “Colonialism 2.0” ( https://bit.ly/3wx6YlY). Mr. Ayuk argues that ESG criteria for financial investments are being weaponised to impose green energy on Africa at a moment when the continent needs to make use of its fossil fuels for the development of its economies. He argues that ESG prioritises the environment at the expense of food, energy security, and poverty reduction in Africa. But is that really the case?