Oil and Gas Law.
A THESIS
ON
ENERGY LAW
THAT
CRITICALLY EXAMINES THE LEGAL ISSUES IN THE DEREGULATION OF THE DOWNSTREAM SECTOR OF THE NIGERIA INDUSTRY: CONSIDERING THE ARGUMENTS IN FAVOUR AND AGAINST DEREGULATION INCLUDING ISSUES PERTAINING TO OPERATION OF THE REFINERY ,WITHDRAWAL OF OIL SUBSIDIES AND APPROPRIATE PRICING IN A LIBERALISED ECONOMY.
.
INTRODUCTION. Nigeria is blessed with vast quantity of oil making it the 6th largest oil exporter in the organization of petroleum exporting country. Oil is a major source of energy in Nigeria and the world in general. Oil being the mainstay of the Nigerian economy plays a vital role in shaping the economic and political destiny of the country. Although Nigeria’s oil industry was founded at the beginning of the century, it was not until the end of the Nigeria civil war (1967 - 1970) that the oil industry began to play a prominent role in the economic life of the country. Nigeria can be categorized as a country that is primarily rural, which depends on primary product exports (especially oil products). Since the attainment of independence in 1960 it has experienced ethnic, regional and religious tensions, magnified by the significant disparities in economic, educational and environmental development in the south and the north. These could be partly attributed to the major discovery of oil in the country which affects and is affected by economic and social components.
Crude oil discovery has had certain impacts on the Nigeria economy both
Positively and adversely. Although Nigeria makes billions of dollars but as most developing countries this has not transformed the economy of the country. Due to problems of mismanagement, inefficiency, corruption, lack of funds, smuggling, bureaucratic bottlenecks and excessive subsidizing, the supply of crude oil has excessively collapsed. the importance of oil in any given economy cannot be overemphasized as illustrated or effective captured in the words of Dr. Trevor, Byer while
ON
ENERGY LAW
THAT
CRITICALLY EXAMINES THE LEGAL ISSUES IN THE DEREGULATION OF THE DOWNSTREAM SECTOR OF THE NIGERIA INDUSTRY: CONSIDERING THE ARGUMENTS IN FAVOUR AND AGAINST DEREGULATION INCLUDING ISSUES PERTAINING TO OPERATION OF THE REFINERY ,WITHDRAWAL OF OIL SUBSIDIES AND APPROPRIATE PRICING IN A LIBERALISED ECONOMY.
.
INTRODUCTION. Nigeria is blessed with vast quantity of oil making it the 6th largest oil exporter in the organization of petroleum exporting country. Oil is a major source of energy in Nigeria and the world in general. Oil being the mainstay of the Nigerian economy plays a vital role in shaping the economic and political destiny of the country. Although Nigeria’s oil industry was founded at the beginning of the century, it was not until the end of the Nigeria civil war (1967 - 1970) that the oil industry began to play a prominent role in the economic life of the country. Nigeria can be categorized as a country that is primarily rural, which depends on primary product exports (especially oil products). Since the attainment of independence in 1960 it has experienced ethnic, regional and religious tensions, magnified by the significant disparities in economic, educational and environmental development in the south and the north. These could be partly attributed to the major discovery of oil in the country which affects and is affected by economic and social components.
Crude oil discovery has had certain impacts on the Nigeria economy both
Positively and adversely. Although Nigeria makes billions of dollars but as most developing countries this has not transformed the economy of the country. Due to problems of mismanagement, inefficiency, corruption, lack of funds, smuggling, bureaucratic bottlenecks and excessive subsidizing, the supply of crude oil has excessively collapsed. the importance of oil in any given economy cannot be overemphasized as illustrated or effective captured in the words of Dr. Trevor, Byer while
Bibliography: Kupollkun, F. ‘liberalization: the experience of Nigeria Etikerentse, G, Nig. petroleum law, macmilian publishers Articles from Vanguard News papers: petroleum product and distribution law and the management of a petroleum economy: revisting the Nigeria crisis. A lecture presented at the second Edition of the the lectures in honour of Prof. G.A Olawoyin (SAN) News watch July 11, 2011 legal Framework for Appropriate funding of the oil and Gas industry