Nigeria: Trouble Looms for Nigeria As China Plans to Ban Petrol, Diesel Vehicles

China, world's biggest car market, plans to ban the production and sale of diesel and petrol vehicles, further threatening the future profitability of oil -- Nigeria's major revenue source.

The development is coming two months after the UK, like Germany, France, India, Norway and Netherlands, revealed plans to ban fuel-run cars, as part of efforts to reduce air pollution.

The ban will lead to a reduction of oil demand in China, as the country is currently the world's second-largest oil consumer after the United States, US.

China wants electric battery cars and plug-in hybrids to account for at least one-fifth of its vehicle sales by 2025.