A cap on the price of petroleum products is the major reason the downstream oil sector, especially domestic refining, has remained undeveloped, Head Energy Research, Eko Bank Limited, Dalapo Oni, has said. In an interview, he said once the government fully deregulates the sector, private refineries would sell at market-determined prices to make profit. According to him, refineries would continue … Read More
Leadership Tussle: $3bn IPMAN Refinery Dream Now A Mirage
The policy of deregulation of the downstream oil industry in Nigeria from an economic point of view considers the enormous subsidy pay out to petroleum marketers as Nigeria in the last five years has consistently spent over N1 trillion, that is about $5 billion, on petrol subsidies. The deregulation of the sub-sector, government argues, will open up the sector to … Read More