Poor facilities denied Nigeria benefits of global energy crisis –LCCI

THE Lagos Chamber of Commerce has blamed Nigeria’s poor infrastructure for the country’s inability to take advantage of the global energy supply shortfall caused by Russia’s invasion of Ukraine.

According to a statement by the LCCI, Nigeria should have been a major harvester of opportunities from the war between Russia and Ukraine in areas like gas supplies to Europe but “unfortunately, we do not have the infrastructure in place to produce enough gas for supply to Europe.”

The chamber said Nigeria would have been in a position to supply oil and gas to countries rejecting Russian oil and gas due to the sanctions imposed on the Eastern European country for invading Ukraine.

The statement quoted the President of the chamber, Asiwaju Michael Olawale-Cole, as noting that the war between Ukraine and Russia would likely make the world’s hunger crisis even tougher to fight, given that the two countries in the war were major suppliers of staple grains like wheat to many nations.

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