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Journal of Emerging Trends in Educational Research and Policy Studies (JETERAPS) (Vol 1 No 1)
| Abstract: For four decades now, Nigeria's economic policies, growth, and other related activities have been largely influenced by the oil industry. To say that the economy is heavily dependent on the oil industry will amount to an understatement as the oil industry is nothing short of a life-blood for the Nigerian economy. It is also sad to know that despite the vast quantity of oil discovered in Nigeria, the economy is faced with various crises leading to the battle for removal of fuel subsidy. This work assesses the politics and economics of the debate on the oil deregulation in Nigeria. The paper identifies deregulation of the oil sector to the ruling elites, continuing deterioration of public services, growing inequality, overdependence on oil, the Niger delta crises as some the leading problems of the deregulation sector. It also proffers solutions for Nigeria to reap the benefits of deregulating the oil sector. The research is expected to aid researchers to tailor the implementation of the deregulation reform in a manner that will address the socio economic challenges of Nigeria and facilitate development. |
| Keywords: deregulation, political economy, downstream oil sector, fourth republic, reform |
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