AN APPRAISAL OF THE LEGAL FRAMEWORK FOR THE REGULATION OF UNIFORM PRICING OF PETROLEUM PRODUCTION IN NIGERIA

📄 Project Abstract

This thesis examined why the prices of petroleum products continues to be priced differently in Nigeria despite the existence of uniform pricing law on petroleum products. The study also examined the principle of deregulation of downstream petroleum sector in Nigeria in order to posit the key argument of how the policy affects economic activities in Nigeria. Arising from this, the study pay attention to the introduction of uniform pricing law from 1973 and the application of subsidy regime as a social welfare scheme to assist consumers have easy access to the product and also enable industries reduce cost of production of goods and services. The introduction of deregulation policy by the Federal Government was to cured the failure of the uniform pricing law in determining prices of petroleum product, however, the policy is faced with growing challenges in supply and distribution of petroleum products that has led to variation in prices of petroleum products all over the country. The re...