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