Feature/OPED
The Future of Oil in The New Century
With the growth of industrialisation, globalisation, advances in technology, and rapid communication, it is evident that the world’s energy needs will only increase.
In fact, according to statistics, electricity demands alone rising twice as fast as the overall energy use, and by 2040, it is likely to increase even more.
The issue surrounding who consumes the most energy depends on the type of energy. Currently, China is leading the world when it comes to electricity consumption, while the United States consumes the most oil. Canada uses an energy mix of hydroelectricity, oil, natural gas, nuclear, among others. And as things improve in those countries, consumption patterns are also expected to evolve.
Therefore, it might be challenging to predict which energy source may dominate in the future. At some point, biofuels were considered a promising energy source, but have somewhat become an afterthought.
Nuclear energy was also supposed to be a cheaper alternative for all in the 1950s but not anymore. There was also worry about the oil reserves. However, shale drilling yielded such a boom in production. As such, fossil fuels, especially oil, are expected to remain the leading energy source in the new century, supplying 80 per cent of the world’s energy requirements.
Oil possesses various properties that make it superior to other energy sources. It is easy to transport, accessible, versatile, sufficient, and more affordable in some areas. Its extensive exploitation and use in various fields, both commercial and domestic, complement these benefits.
Oil accounts for 40 per cent of the energy mix, and there are about 1,100 billion barrel reserves of crude oil. At the current production rate, these reserves should meet demands for up to 45 years.
Despite these positive attributes, oil is under scrutiny due to the effects of its extraction and use on the environment. First of all, oil production disrupts wildlife; the loud noises, vehicle, and human traffic from the drilling operations interfere with communication in avian species.
Infrastructure such as power lines, fences, and roads also get in the way for many species. Oil spills also negatively affect animals. And while smaller spills don’t usually garner much attention, they still cause some damage. The long term effects of these spills, whether big or small, can be devastating to both the environment and the animals. The air and water pollution from oil extraction and exploitation can affect local communities, leading to health complications. Cancer, liver damage, asthma, and birth defects are a few health issues the people in such communities face.
It is quite ironic given the value of the oil being extracted from those areas. You cannot discuss the negative effects of extracting oil without mentioning the effect on climate due to the emissions of greenhouse gases such as methane. Landscapes are also destroyed, turning visitors away, and hence affecting tourism and adventure.
Governments and industry stakeholders will have to rethink the extraction process and come up with less harmful ways to achieve the same or even better outcomes to address these issues.
In addition to the expected rise in energy demands in the new century, there will also be a high need for clear and safer energy per Sustainable Development Goals (SDG) 7.
Fortunately, with the advances in technology, it is possible to make oil cleaner and safer, to meet the environmental regulations and requirements. Canada is making strides in this regard by implementing technologies to reduce environmental impact and improve efficiency.
On the other hand, according to projections, the demand for other energy sources will also rise. For example, renewable sources such as wind and solar are expected to increase their global power share from 7 per cent to 25 per cent by 2040. Nuclear power is expected to meet some of the world’s energy.
Oil’s biggest demand will be for petrochemicals, and not so much for transportation. Oil’s fellow hydrocarbon, gas, is expected to become oil’s closest rival, as it is more favourable for the environment. However, oil still has a competitive advantage in the foreseeable future.
The rise in demand for energy will inevitably affect pricing in the future. Currently, due to the pandemic, oil price predictions are based on factors such as the speed of vaccination, production and consumption rates.
However, some experts warn that the current high prices of oil may not survive the pandemic. The general speculation is that the demand for other energy sources, especially the renewables, will rise, reducing the demand for oil. Some industry players even believe that the most lucrative years of the commodity are behind the industry. Therefore, oil prices are expected to fluctuate due to the demand-supply fundamentals, among other factors.
For oil to maintain its integrity on the energy market, the industry has the responsibility of ensuring it reaches its full potential. This will not likely begin with reducing the negative impact on the environment. It involves making relevant investments into the industry and putting market stability measures in place to keep the energy source relevant to meet consumer and producer needs.
The industry will also have to find ways to settle on stable pricing. And even in the event of a crisis, the market should not be affected much with such measures in place. The truth is if the oil market is unstable, the energy market becomes unstable, making these measures a necessity.
Website: www.s8contractors.com
LinkedIn: https://www.linkedin.com/company/10803928/admin/
Facebook: https://web.facebook.com/S8-Contractors-10248349178970
Twitter: https://twitter.com/ContractorsS8
Feature/OPED
Building 234 Solutions: A Response to Everyday Workforce Challenges
By Owoloye Emmanuel
Every business starts with a problem. For us, that problem was hiding in plain sight.
Across organisations, we kept seeing HR professionals, payroll teams, and business leaders spend significant time navigating processes that should be simpler. Employee records sat across multiple systems, payroll processes required manual intervention, and routine workforce tasks often became more complicated than they needed to be.
As businesses grow, workforce operations naturally become more complex. Yet many organisations still rely on disconnected tools and workflows that create unnecessary friction for both employers and employees.
The consequence is more than operational inefficiency. HR teams spend valuable time managing systems instead of supporting people. Business leaders struggle to access timely workforce insights, while employees experience delays in processes that should be seamless.
These weren’t isolated challenges. They were recurring realities across workplaces, regardless of industry or size.
That observation led us to a simple question: what if workforce management could be easier?
What if HR, payroll, and workforce operations could work together within a single, connected experience?
That question became the foundation for 234 Solutions.
We are building 234 Solutions with a clear belief that workplace technology should reduce complexity, not add to it. Our goal is to help organisations spend less time navigating processes and more time focusing on productivity, growth, and people.
As we prepare for launch, our focus remains simple: building practical solutions for real workplace challenges and helping organisations create better experiences for the people who power them every day.
Owoloye Emmanuel is the founder of 234 Solutions
Feature/OPED
The Role of TV in Preserving African Stories and Identity
Scroll through social media today, and you will notice something interesting: everyone is either reacting to a series, quoting a movie line, or debating a character as though they personally know them. Beneath the memes and binge-watch culture, however, lies something deeper. Television remains one of the most powerful tools shaping how Africans see themselves, remember their history, and tell their own stories. In a continent as diverse and expressive as Africa, that matters more than ever.
TV as a Cultural Archive, Not Just Entertainment
Long before streaming algorithms began shaping our viewing habits, television was already preserving African identity. From Nollywood dramas that capture the rhythm of everyday Lagos life to documentaries exploring Maasai traditions and Ghanaian folklore, TV has served as a living archive of the continent’s stories.
It preserves more than entertainment; it preserves language, culture, humour, values, and shared experiences. Unlike fleeting social media content, television allows stories to unfold with depth, exploring the realities of family, tradition, ambition, and modern African life without reducing them to stereotypes. That is the power of TV: preserving not just stories, but perspective.
Why Representation on TV Still Matters
There is a subtle but important truth: if people do not see themselves on screen, they may begin to believe their stories are not worth telling. This is why African TV content is more than entertainment; it is affirmation.
Seeing a character who speaks like you, struggles like you, or celebrates like your community does something powerful. It validates identity and challenges outdated narratives that have historically defined Africa through external lenses.
This is where MultiChoice Group, through platforms such as DStv and GOtv, plays an important role. They do not simply broadcast content; they help distribute cultural memory at scale.
GOtv, DStv, and the Everyday African Viewer
Think about a typical evening in many African homes: the TV is on in the background, someone is laughing at a comedy show, another person is watching a local series, and someone else is catching up on the news. That shared viewing experience remains very real.
Through platforms such as DStv and GOtv, African households are exposed to a blend of local storytelling and global content. More importantly, they have helped amplify African-produced content by bringing Nollywood films, African reality shows, talk shows, and documentaries into mainstream rotation.
It is not just about access. It is about visibility.
A young filmmaker in Lagos today is more likely to believe their story matters because they have seen similar stories broadcast widely. A child in Accra grows up hearing familiar accents and seeing environments that look like their own on screen, not as exceptions, but as the norm.
TV Is Also Shaping Modern African Identity
African identity is not static; it is evolving. Television reflects that evolution in real time.
Today, audiences see:
-
Young Africans balancing tradition and modern dating culture
-
Stories tackling mental health in African households
-
Fashion and music influences spreading through TV series
-
Political satire shaping public conversation
Conversations that were once confined to homes are now being explored on screen, giving audiences the language to discuss issues that were previously unspoken.
In many ways, television is doing what oral tradition has always done: passing stories, values, humour, warnings, and history from one generation to the next. The difference is that today’s griots are writers, directors, and broadcasters.
The Future: From Watching to Owning Our Narratives
The next stage of African storytelling is not just about being seen; it is about ownership.
As more African creators produce content and platforms continue to invest in regional storytelling, television becomes more than a mirror. It becomes a tool for shaping how Africa is represented to itself and to the world.
While streaming continues to grow, television, particularly accessible platforms such as GOtv, remains one of the most effective ways to reach everyday audiences across different income levels and regions. After all, storytelling only matters if people can access it.
African stories are not new. They have always existed in families, on streets, in markets, in history books, and through oral traditions. What television has done, and continues to do, is give those stories a stage wide enough for millions to experience them at once.
The next time you watch a local series or documentary on DStv or GOtv, remember that you are not just being entertained. You are participating in the preservation of African identity itself.
Feature/OPED
The Future of AI in Nigerian SMEs: Overcoming Barriers to Implementation
By Kehinde Ogundare
Ask a tech entrepreneur in San Francisco what AI means for their business, and they are likely to talk about competitive advantage, product differentiation, and scale. Ask a small business owner in Kano or Onitsha the same question, and the conversation shifts entirely.
For many Nigerian SMEs, the priority is keeping the lights on, managing costs, and finding sustainable ways to grow in a challenging economic environment. This difference in perspective explains why the global AI conversation, often shaped by assumptions about stable infrastructure, deep capital, and abundant technical talent, frequently fails to address the realities facing Nigerian SMEs.
This matters because Nigerian SMEs are not a peripheral concern. In 2024 alone, MSMEs contributed 46.32% to Nigeria’s GDP, accounting for 96.9% of businesses and 87.9% of employment. These businesses are the backbone of the Nigerian economy, and if AI is going to mean anything for Nigeria’s development, it has to work for them in the daily conditions they actually operate in.
However, research drawing on empirical data from 144 Nigerian SMEs found that inadequate infrastructure, low digital literacy, skills shortages, and regulatory gaps are collectively preventing them from meaningfully engaging with AI. Awareness of AI is high and growing. What is missing is a clear and honest conversation about what adoption actually requires in this specific context. The barriers are real, but none of them are insurmountable. The question is whether the tools, pricing models, and support structures being offered to Nigerian SMEs are designed with those barriers in mind, or whether they have been built for another market entirely.
Subscription models making AI affordable for small businesses
When most small business owners hear “AI,” they imagine expensive software, specialist consultants, and a hefty upfront bill.
That assumption is not entirely wrong, but it describes a particular way of buying technology, not AI itself. The shift that makes AI genuinely accessible at the SME level is the move away from large, one-time capital purchases towards tools that charge a predictable monthly subscription. Businesses can pay for what they use, scale back when necessary, and avoid the debt that a major technology investment can create.
The deeper opportunity here is consolidation. Many SMEs are already spending money across multiple disconnected tools—one for invoicing, another for customer records, another for stock tracking—none of which talk to each other. An integrated platform that handles several of these functions together, with AI built in, can actually cost less than the sum of those separate subscriptions while giving business owners a clearer picture of their operations.
With margins already under pressure, any technology a business adopts needs to visibly show an increase in productivity or bottom line. Subscription-based, integrated platforms, priced transparently and honestly, are the model that best fits this reality.
Infrastructure challenges demand a mobile-first approach
No conversation about technology in Nigeria is complete without confronting the infrastructure problem, and AI is no exception. Nigeria continues to face major infrastructure barriers, including limited broadband access, unreliable power supply, and high data costs, all of which constrain deeper AI adoption. These are structural features of the operating environment that any sensible technology strategy must account for today.
The electricity situation alone is significant. The World Bank estimates that the lack of stable electricity costs Nigeria’s economy approximately $26.2 billion annually, equivalent to about 2% of GDP, forcing many businesses to run on expensive diesel generators. That cost ripples outward.
In practical terms, AI tools built for Nigeria cannot assume a stable broadband connection or a computer that is always powered on. The tools that will actually get used are the ones that work on a smartphone, consume minimal data, and can function offline when connectivity drops, syncing back up when it returns. The mobile phone is already how many Nigerian SME owners run their businesses. AI that meets them there, rather than demanding infrastructure they do not have, is AI that has a genuine future in this market.
The direction is clear: build capability from within, using tools that make that possible. Recent AI performance research reveals that 64% of African workers are already actively using AI at work, signalling massive grassroots readiness and driving forward-thinking organisations across Nigeria, Kenya, and South Africa to aggressively prioritise internal upskilling frameworks to bridge the talent gap.
As the policy groundwork is being laid, the commercial ecosystem is beginning to respond. What remains is a clear-eyed acceptance that AI tools built for this market need to look different from those built for markets with different realities. Low cost, low bandwidth, and usability for non-technical people are not modest ambitions; they are the actual requirements. Build for those realities, and AI has a real future in Nigeria’s SME economy.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn


