Brief 5 : rethinking the deregulation of Nigeria's downstream oil sector
Date
2014-08
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Publisher
University for Peace Africa Programme, Addis Ababa, ET
Abstract
Successive governments in Nigeria have tried to embark on the
deregulation of the distributing and marketing sector of the oil industry,
but such efforts continue to be resisted by majority of Nigerians, led
by Labour and Civil Society Coalition (LASCO). The government
maintains that restructuring the sector is germane for increasing
government income and establishing a strong and independent
regulatory institution with new legal framework and less political
interference. However the implementation of the policy has left much
to be desired. This policy brief examines why efforts by successive
governments in Nigeria towards the deregulation of the oil marketing
and distribution sector have continued to be resisted by the majority
of Nigerians. It further argues that while deregulation of the oil sector
can be adopted as a strategy for strengthening government income, this
needs to be enshrined in policy frameworks that are cognizant of the
structural and contextual factors, which include the need to cushion the
population from the impact of a liberalized economic climate, and the
time to do that is now.
Description
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Policy Brief
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Keywords
NIGERIA, OIL INDUSTRY, CIVIL SOCIETY, CIVIL AND POLITICAL RIGHTS, PETROLEUM INDUSTRY, ECONOMIC LIBERALIZATION, DEREGULATION, TRADE UNIONS, LABOUR LAW, FUEL OILS, DISTRIBUTION, CORRUPTION
Citation
Akinola, A. (2014). Brief 5 : Rethinking the Deregulation of Nigeria's Downstream Oil Sector. UPEACE Africa Policy Series, 1(2): 55-64.