Why Does the Government Want to Deregulate?

The Federal Government wants to deregulate the downstream sector, of Nigerian oil industry in order to:

  1. Ensure that petroleum products are made available to the consumers in an uninterrupted manner;
  2. Eradicate waste and corruption which are consequences of tightly regulated economy;
  3. Ensure that the supply and distribution of petroleum products are orderly and consumer-friendly;
  4. Channel money realized from the exercise to development projects that will be beneficial to the majority of the people.