- Nigerian energy sector reform and economic policy
- Policy drives energy sector development in Nigeria, including regulations on public procurement.
- Nigeria's government announces an act that overhauls the governance and fiscal architecture of the country's energy sector.
- The Nigerian government is streamlining oil and gas taxes.
Nigeria defends petroleum deregulation, citing private investment success
- Reports
- 2
- Developments
- 3
- Repetition
- 0%
New informationRepeats or wire copies
What happened
Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), defended the federal government's deregulation of the downstream petroleum sector. He stated that deregulation allowed private businesses, such as the Dangote Refinery, to thrive. Lokpobiri also noted that while the policy aims to enable private sector growth, the presence of the refinery does not automatically guarantee lower fuel prices.
From tribuneonlineng.com
Why it matters
The policy is part of a larger effort by the federal government to overhaul the energy sector's fiscal architecture. Lokpobiri argued that deregulation created room for private investment in Nigeria’s oil and gas industry. This defense supports the government's regulatory standing and the success of private investment in the sector.
The Nigerian government is currently streamlining oil and gas taxes and announcing an act that overhauls the governance and fiscal architecture of the country's energy sector.
From tribuneonlineng.com
Who's involved
- NigeriaSovereign state where the petroleum sector is being regulated.
- federal governmentCentral authority defending the petroleum sector deregulation policy.
- Heineken LokpobiriMinister of State for Petroleum Resources (Oil) defending the policy.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Niger DeltaSpeculative
The deregulation policy could enable private investment and refinery operations in the region's primary resource base.
How it developed
Newest first. Tap a step to see who reported it.Government announced a discounted fuel rate.1 source
- A governor noted that Nigerian petrol prices are currently lower than those in the UK, comparing the two markets.Sub-event
Government defends petroleum sector deregulation; prices are lower than US, South Africa, Cameroon, and Ghana.1 source
Keep exploring
Part of
The Nigerian government is streamlining oil and gas taxes.Also in this story
- Nigerian federal government approved a special production-linked tax credit for a deepwater project to boost oil production and attract FDI.
- The Nigerian government commissioned PricewaterhouseCoopers for a global benchmarking of oil taxes and fees.
The entities involved
-
Nigeria
sovereign state in West Africa
-
federal government
highest, central, level of government in a federation
Related events
- Sokoto reflects on the national cost of living, driven by global energy shock and currency devaluation.
- An economic summit took place in Abuja, Nigeria, where Nigeria's difficulties competing due to high production costs were discussed.
- Midwestern Oil and Gas Company Ltd. pledged to strengthen collaboration and support initiatives in Nigeria's oil and gas industry.
- Nigeria hosts major oil and gas industry conferences and promotes pioneering production for economic growth.