THE EFFECT OF DEREGULATION OF THE OIL SECTOR ON THE NIGERIAN ECONOMY

  THE EFFECT OF DEREGULATION OF THE OIL SECTOR ON THE NIGERIAN ECONOMY

This research work examines the effect of deregulation of the oil sector on the Nigerian Economy, it examines the definition, reasons modes, theories, problems as well as the solution to deregulation and its relation to privatization policy in the course of carrying out the investigation, hypothesis were stated and literature like magazine, textbooks, information from the internet, newspapers and questionnaires were prepared, and used in order to effectively and critically examines this issues and how it affects the general public with a view of making recommendation on how best to ensure the effective implementation of the policy. This project provides a background information of the topic of discussion with the purpose of assessing the effects of deregulation of oil sector on the Nigerian economy and examines the reasons, problems and solutions to deregulation. In an attempt to carryout this investigation, the study centred around the down stream oil sector with specific reference to the Nigerian economy

CHAPTER ONE INTRODUCTION

1.1     BACKGROUND OF THE STUDY  

          The economic system practiced by any country determines the type of economic policy that country produces, that is determines the monopoly of power of power in production and distribution activities with special reference to the ownership, decision making as well as incentive structure operating in the country. Karl Polory (1964) distinguishes three (3) main types of economic system as the traditional (subsistence) planned (command) and market economy. However, the field of comparative economic system breaks the above categories into the capitalism, socialism and communism.

          The economic system operative in Nigeria are basically the capitalism, socialism and communism system. But with the collapse of the communism and socialism economic policies in 1986 to give rise to a unipolar economic system-capitalism the policy of “deregulation” has been found expedient to implement.

          This policy (deregulation) was first mooted during the military era but was given fillip by the present administration.

1.2     STATEMENT OF PROBLEM

          The problems surrounding the deregulation of oil sector which this research topic aims to investigate are:

Does deregulation affect the price of petroleum?

Does deregulation affect the price of goods and services?

Does deregulation encourage the growth of the economy?

Does deregulation improve the standard of living of the people?

1.3     PURPOSE OF THE STUDY

          The major objectives of this study are to access

1)    The effects of deregulation of the oil sector on the Nigerian economy.

2)    The season and problems of deregulation of the Nigeria oil sector.

3)    To proffer solution based on findings on the study that will be useful for deregulation policy and achievement of stable balance of payments.

1.4     SCOPE OF THE STUDY

          The scope of this project will centre around the deregulation of the down stream sector as it affects other sectors of the economy with specific reference.

1.5     SIGNIFICANCE OF THE STUDY

          This study is significant in the sense that it looks into the deregulation of the Nigeria oil sector as a means of liberalizing the economy and encouraging competition hence, this study is beneficial to both academicians and non academicians as it will enable them know, and it will also suggest solutions to some of the problems associated with the policy.

1.6     HYPOTHESIS OF THE STUDY

To empirically carry out this research, the following hypotheses have been formulated for testing.

a)     Ho 1: deregulation of the oil sector does not significantly affect the pump price of petroleum products.

b)    Ho 2: deregulation of the oil sector does affects significantly the pump price of petroleum products.

1.7     LIMITATION OF THE STUDY

          The major limitation of this study is that the period of time given by the College for the study would not allow for an in-depth coverage of all the issues connected with the topic under study and collection of related information.

          A certain information analyze some observation may not be accessible e.g. independent marketers operation records may be regarded as strictly confidential and would not be developed to the research. And lastly finance is another constraint to an indebt study of this topic.

Project Topics   Project Topics and Materials    

.

Click Here To Get The Complete Project »

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.