New Framework for Petroleum Products Supply, Distribution and Pricing – May 2016
What is the benefit of the new price regime to [...]
FAQs
Frequently Asked Questions
How Can Nigerians Ensure A Successfully Deregulated Downstream Sector?
To make the efforts of Government at deregulating the he downstream sector a success, you are enjoined to among other things; Ask more questions, understand more and always remember that all of us will be winners when the deregulation process is successfully completed. Provide whatever enlightenment you may have on the subject to your colleagues and neighbors. Figure out how you can become a direct participant in the process. It is your right to participate. Believe in Nigeria and the ability [...]
What Guarantees That Government Will Extend Deregulation’s Benefits To Nigerians?
This is a democratic government. There are constitutional checks and balances like the National and State Assemblies that will ensure that government fulfills its promises. Also Civil Societies are at liberty to pressurise Government to ensure it fulfils its promises to the [...]
What Are The Differences Between Deregulated and Underegulated Petroleum Sectors?
Basically, the underlying principles behind deregulation and liberalisation are the same; removal of official restrictions and bottlenecks that discourage participation and investment, and the consequent opening up of the sector with the aim of engendering maximum competition. This applies in all cases so there is no fundamental difference based on sectors. Therefore, the feat achieved in the Communication, Aviation and Broadcasting sectors of our economy can be replicated in the downstream [...]
What Will Government Do With Proceeds From A Deregulated Petroleum Industry?
It is the intention of Government to channel money to be realised from deregulated downstream sector into the provision of infrastructure like potable water, construction of schools and colleges. Government also intends to spend the money it to boost agriculture and invigorate the power sector and undertake comprehensive road maintenance nationwide. There will also be focus on economic empowerment of the people and providing social safety net for the [...]
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