The Deregulation Policy in the Nigerian Downstream Petroleum Sector and Its Effects.

Abstract

Despite the vast potential Nigeria has as an oil country, its downstream sector production has failed to meet up with the demand of the populace, leading to shortages in fuel, long queues at the pumps; and the claim of heavy subsidization in the importation of fuel by the government to meet up with the demand. To reverse this trend and to address this crisis in the downstream, the government deregulated the sector. This study will look into the changes that have been witnessed by the oil industry, examine the effects of the policy and seek to answer the question of the availability of an alternative remedy to the situation. Having looked at the effects of the policy, this study will, most especially, seek to address how best the post-deregulation situation can be managed

Keywords: deregulation policy, downstream petroleum sector, oil and gas policy