Crude oil export contributes to unemployment – Expert

The Chairman, Eddison Oil and Gas Nigeria Ltd, Mr Samson Imodje, on Monday said that continued export of crude by Nigeria was responsible for the high level of unemployment in the country.

Imodje said this in an interview with newsmen in Abuja while speaking on ways of creating employment in Nigeria.

He said that refineries were essential in not only creating and sustaining jobs but tapping into the economic advantages of crude for industrial advancement.

The expert, who noted that America was a world producer of crude, said it had not sold its crude for a day.

‘’Americans, instead of selling, shut their oil wells and continued to import from OPEC because they know the value of crude.

‘’While Saudi Arabia and other OPEC nations do not utilise the potentials of crude, America does, making her richer over Saudi Arabia that exports 10 million barrels a day,’’ Imodje said.

The oil expert described crude as ‘’liquid gold’’ comprising every desirable economic potential for industrial advancement.

According to him, crude has about 2,347 components which include even edible components for food security.

He urged the Nigeria to build refineries for export of finished products of crude and the crude itself.

Imodje, who described the export of crude as a roadmap to poverty and under-development, said that it was time to stop crude export.

The expert said that countries only developed with industrialization and not crude sale, saying that Japan had 46 refineries without crude on its soil.

He, however, called on Nigerian government to be more innovative and explorative in pursuing its economic policies for future economic security.

The Nigerian National Petroleum Corporation is, however, assuring that the country’s export of crude would be cut by 60 per cent once Dangote and other local refineries commence operations.