Page 5 - Nigeriaone mag 2 edition en
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Editorial



             Envisioning a less dependence on the West


                                                                As  for  the  European  leaders,  they  have  begun  a
                                                                campaign to find new sources of supply to replace
                                                                Russian gas, on which some countries, such as Ger-
                                                                many,  are  highly  dependent.  Many  are  looking  to
                                                                Africa  for  partnerships  to  make  the  Russian  gas
                                                                boycott a reality.
                                                                The  upward  fluctuations  in  the  price  of  crude  oil
                                                                have serious consequences for many people, espe-
                                                                cially for developing countries, which are suffering
                                                                from massive inflation, shortages of petroleum pro-
                                                                ducts  and  food  insecurity,  since  Ukraine  supplies
                                                                42% of the sunflower oil traded on the world mar-
                                                                ket, Russia was in 2020 the world's second largest
                                                                producer  of  natural  gas  (18.0%  of  world  produc-
                                                                tion),  second  largest  producer  of  oil  (12.4%)  and
                                                                sixth largest producer of coal (5.3%). Finally, Russia
                                                                is the largest exporter of natural gas with 22.6% of
                                                                global net exports.
                                                                This  difficult  global  economic  situation  coupled
                                                                with  an  alarming  political  uncertainty  has  had
                                                                unfortunate  repercussions  on  the  African  conti-
                                                   Logo of PSA
                                                                nent: Unfortunately, none of the African oil and gas
             Welcome to the second edition of Nigeria One. This  producers  has  been  able  to  take  advantage  of  the
             magazine dedicated exclusively to the energy sector  surge in oil prices. The quotas set by OPEC were not
             comes out in a particular context emanating from a  even reached and only countries like Saudi Arabia
             global crisis that does not say its name. The Russo-  were able to benefit from this new deal.
             Ukrainian  war  shows  us  every  day  the  fragility  of  The Russo-Ukrainian war must sound like a power-
             the  world  economy.  The  latter  has  extraordinary  ful thunder in the Sahara and allow Africans to re-
             repercussions on the whole globe.                  prioritize their options. The African continent, ins-
             Europe and the United States are leading the way   tead  of  being  the  breadbasket  of  the  world,  has
             with  economic  sanctions  against  Russia  and    found  itself  weakened  on  all  levels  despite  all  its
             military aid to Ukraine. While China and India are  arable land and abundant natural resources.
             strengthening their relationship with Russia. Africa  We are calling on African leaders to listen to the
             is experiencing the full impact of this war in many  people and offer the continent the chance to reduce
             ways.                                              our dependence on the West for the deserved well-
             Thus we have seen oil prices soar above the six dol-  being of the entire African population.
             lar a gallon mark in the US, with galloping inflation,
             but above all a general discontent among the popu-
             lation, which has gone so far as to question the aid  Yamar Fall
             offered by President Biden to Ukraine.             African Solidarity Association (PSA)




             Editorial                                                                                     5
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