Economic and Financial Review


Central Bank of Nigeria


Economic Reforms, Downstream Petroleum Sector, Deregulation, Oil and Gas


This article examines deregulation of the downstream petroleum sector in Nigeria. The article first discusses: the Nigerian government's aspirations as at 1999, evolution of the present deregulation policy, deregulation concept and downstream operators. This is followed by an examination of the Nigerian government responsibilities to operators, responsibilities of oil marketing companies, responsibilities of industry associations and responsibilities of regulatory authorities. The article then explains the mandate and vision of the PPPRA in addition to its goals and objectives. Other issues addressed by the article include: appropriate pricing, global taxation scheme, policy development in fuel taxation objectives, appropriate pricing policy. Experiences of other countries and lessons learnt from these other countries like: India, Philippines, Canada, Chile, Ghana, Cameroon, Mali, South Africa are discussed.

Author Bio

Dr. Oluleye is the Executive Secretary. Petroleum Products Pricing Regulatory Agency ( PPPRA)

Publication Title

CBN Economic and Financial Review (EFR)





Recommended Citation

Oluleye, O. (2004). Deregulation of the Downstream Petroleum Sector: the journey so far. CBN Economic and Financial Review. 42(4), 127-143.

Included in

Economics Commons



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.