ABSTRACT
This study evaluates deregulation of the downstream oil sector and its effect on the Nigerian economy. This study arose out of the need to find solution to the sorry state of the four refineries, the inefficiency in the distribution, the poor pricing of petroleum products and the negative effects of monopolistic structure of the downstream sub-sector. The study attempt to identify the challenges associated with deregulation of the downstream sub-sector and to examine the effects of deregulation of the downstream sub-sector on petroleum product pricing in Nigeria. The study examine the extent to which deregulation has impacted on availability of petroleum product since 2003. The study progressed to identify what policy options are there for improved performance in Nigerian downstream sub-sector. The descriptive survey research design was used and data was collected using questionnaire method. Chi-square and simple statistical methods was used for data analysis. The findings of the study among others review of deregulation of the downstream is to open the market for new investors and reduce government spending on subsidy payment.It is recommended that government should in effect provide the broad guidelines for the operation of refineries and allow private initiative in running of refineries Finally, government need to create an enabling environment for private individuals and companies to establish refineries and should double the quantity of crude for domestic refining needs, in this way, the country should target supplying the refined needs of these would be investors.
KEYWORDS: DEREGULATION, DOWNSTREAM, REFINERIES, OIL, SUB-SECTOR, SUBSIDY, ECONOMY
TABLE OF CONTENTS
Pages
Title Page i
Certificate ii
Dedication iv
Acknowledgements v
Abstract vi
Table of Contents vii
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study 1
1.2 Statement of the Problem 6
1.3 Objectives of the Study 7
1.4 Research Questions 7
1.5 Research Hypotheses 8
1.6 Justification of Study 8
1.7 Scope of the Study 10
1.8 Organization of the Study 10
1.9 Definition of Terms 11
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 12
2.1 Conceptual and Theoretical Review 15
2.2 Empirical Review 22
2.3 Reasons for the Deregulation of the Nigerian Downstream oil Sector 28
2.4 Implication of the Review of the Current Study 36
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Theoretical Framework 41
3.2 Methodology 41
CHAPTER FOUR
4.1 Presentation of Results 48
4.2 Discussion of Results 70
4.3 Comparison of Result with Previous Findings 72
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of the Findings 79
5.2 Conclusion 79
5.3 Recommendations 80
5.4 Limitations of the Study 82
5.5 Suggestions for Future Research 83
References
Appendix
Bamidele, G. & Adegbola, B (2018). THE EFFECT OF DEREGULATION OF THE DOWNSTREAM OIL SECTOR AND ITS EFFECT ON THE NIGERIAN ECONOMY. Afribary. Retrieved from https://afribary.com/works/the-effect-of-deregulation-of-the-downstream-oil-sector-and-its-effect-on-the-nigerian-economy
Bamidele, Gabriel, and Bamidele Adegbola "THE EFFECT OF DEREGULATION OF THE DOWNSTREAM OIL SECTOR AND ITS EFFECT ON THE NIGERIAN ECONOMY" Afribary. Afribary, 22 Mar. 2018, https://afribary.com/works/the-effect-of-deregulation-of-the-downstream-oil-sector-and-its-effect-on-the-nigerian-economy. Accessed 22 Nov. 2024.
Bamidele, Gabriel, and Bamidele Adegbola . "THE EFFECT OF DEREGULATION OF THE DOWNSTREAM OIL SECTOR AND ITS EFFECT ON THE NIGERIAN ECONOMY". Afribary, Afribary, 22 Mar. 2018. Web. 22 Nov. 2024. < https://afribary.com/works/the-effect-of-deregulation-of-the-downstream-oil-sector-and-its-effect-on-the-nigerian-economy >.
Bamidele, Gabriel and Adegbola, Bamidele . "THE EFFECT OF DEREGULATION OF THE DOWNSTREAM OIL SECTOR AND ITS EFFECT ON THE NIGERIAN ECONOMY" Afribary (2018). Accessed November 22, 2024. https://afribary.com/works/the-effect-of-deregulation-of-the-downstream-oil-sector-and-its-effect-on-the-nigerian-economy