Nigeria Economy in Trouble as Kenya flags off oil production, export

Nigeria may have more competition on its hands in the African continent for export markets as Kenya has just become one of the world’s newest oil producers.

The country on Sunday flagged off the transportation of the first oil barrels. President Uhuru Kenyatta led a host of local leaders to celebrate the feat that enabled the country to join Uganda as the only two oil-producing nations in East Africa. This may have informed the official visit of the former President of the United States of America, Barrack Obama to Kenya.

In a historic occasion held at Ngamia 8 oil fields in Lokichar, Turkana County in the north, the president flagged off four trucks ferrying crude oil to the Kenya Petroleum Refinery in Mombasa. The crude oil is being ferried in an experimental programme Early Oil Pilot Scheme (EOPS). The resource will be kept in Mombasa as the country looks for viable markets.

Without mentioning names, Mr Kenyatta said two countries have experienced the painful side of the mineral, saying the country would do everything possible to avoid similar situations. Nigeria and Angola are countries where fights have erupted because of disagreements over oil proceeds.

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