Canada has joined the list of countries that have put a ban on fuel (petrol, diesel) engine cars, as the world races to fight climate change, and it is not good news for Nigeria, as well as other oil-producing and dependent countries. Canada initially announced that it would ban the sale of new internal combustion engine (ICE) cars and light-duty trucks by 2035. However, in 2026, it revised the planned ban and announced it would be a stricter fuel efficiency and emissions standard coupled with more subsidies for electric vehicles. Other countries have already put an end to fuel-engine cars. Britain has a ban on ICE vehicles by 2030, and Norway put theirs for 2025. What happens when these countries stop running fuel-based cars and switch to electric? It simply means fewer sales for oil-producing countries such as Nigeria, as demand will drop drastically. The price of crude oil will drop further because of excess supply over demand, and countries such as Nigeria, which derive a major chunk of their external revenue from crude oil sales, will be hit hardest! It simply means whatever hardship Nigeria and Nigerians are currently facing, is only the tip of the iceberg if they fail to fully diversify their major source of external revenue, before the deadline for the ban of fuel (petrol & diesel) engine cars strikes.
