Central Bank of Nigeria
Economic reforms, Downstream petroleum sector, deregulation, oil and gas
This article re-examines the policy on petroleum products pricing, especially against the background 'Of government's decision in October 2003 that crude oil for domestic consumption be paid for at the prevailing international price, in order to suggest a way forward. The issue of subsidy is also discussed in that context. The rest of the paper is organized as follows: Section II contains literature review on petroleum products pricing and subsidy. Petroleum products pricing and subsidy management in Nigeria is found in section III. Section IV contains suggested way forward in products pricing in Nigeria as well as concluding thoughts.
CBN Economic and Financial Review (EFR)
Ukpong, G. E. (2004). Pricing of petroleum products in Nigeria and the issue of price subsidy. Economic and Financial Review. 42(4), 93-105.