The petroleum oil sector is the major area where Nigeria income emanates. Before the discovery of crude oil, agriculture is the major source of income in this country and it forms the major exporting base in this country then. Right now, Nigeria exports more than 50, 000 barrels of oil a day to other countries in this country, the oil sector is controlled by the federal government under the direct supervision of Nigeria National Petroleum Cooperation, whose immediate chairman is chief fusnso Kupkolukun who succeed Pius Obaseki. The NNPC is vested with the power refine Nigeria crude oil but other petroleum agencies like orient petroleum, cheoron, EIF, Total etc con embark in exploration of land areas that might concern crude and possible extraction.
The oil sector is controlled by the federal and this makes them to be the sole monopoly of this sector. Therefore, president Olusegun Obasanjor announced the deregulation policy which not only restricted to the oil sector, but to other sectors of the economy” commercialization and prostration of all the sectors of the economy. President Olusegun Obasanjor in Lagos on 27th February 2001, Obasanjo said that deregulation would mean the end to the existing subsidy system in the sector.
Due to the Non competitiveness of the fuel prices in Nigeria, no investor will establish a refining in the country, said the president, instead, the government will subside the social services and improve publics utilities like education, health, transport, power and water Obasanjo said on the occasion.
Nigeria currently spends billions of U.S dollars on subsidization of oil products every year, but still experiences fuel shortages from time to time. So, the aim of this derogation policy is to ensure that fuel shortages are curbed and that the constant labour stricken because of the incessant rise and hike in the fuel prices is also curbed.
Nupeng and pengassen are also involved in the regulatory process, because both are indirectly involved in supply of petroleum, thereby possible shortage in fuel supply might be triggering off by the acovgies of nupeng and pengassen.
TABLE OF CONTENTS CHAPTER ONE Introduction 1.1 General introduction 1.2 Statement of problems 1.3 Problems definitions 1.4 Objectives of the study 1.5 Formation of Hypothesis 1.6 Significance of the study 1.7 Scope of the study 1.8 Limitations of the study CHAPTER TWO Literature review 2.0 General... Continue Reading
TABLE OF CONTENTS CHAPTER ONE Introduction 1.1 General introduction 1.2 Statement of problems 1.3 Problems definitions 1.4 Objectives of the study 1.5 Formation of Hypothesis 1.6 Significance of the study 1.7 Scope of the study 1.8 Limitations of the study CHAPTER TWO Literature review 2.0 General... Continue Reading
TABLE OF CONTENTS Title page Approval page Dedication Acknowledgement Table of contents CHAPTER ONE Introduction 1.1 General introduction 1.2 Statement of problems 1.3 Problems definitions 1.4 Objectives of the study 1.5 Formation of Hypothesis 1.6 Significance of the study 1.7 Scope of the study 1.8 Limitations of the study CHAPTER TWO Literature... Continue Reading
ABSTRACT The researcher aim of writing this project was achieved by her objectives i.e. the study of impact and implication of restructuring the Nigerian Pension Scheme, (A case study of Enugu State). The researcher found out how pension are being paid in Nigeria and the people responsible for the payment. Chapter one of this project talked about... Continue Reading
A STUDY OF IMPACT AND IMPLICATION OF RESTRUCTURING THE NIGERIA PENSION SCHEME (A CASE STUDY OF ENUGU STATE) ABSTRACT The researcher aim of writing this project was achieved by her objectives i.e. the study of impact and implication of restructuring the Nigerian Pension Scheme, (A case study of Enugu State). The researcher found out how pension are... Continue Reading
ABSTRACT This project titled “PRIVATISATION – AS A MEANS OF SOLVING NIGERIA ECONOMIC PROBLEMS” (A CASE STUDY OF NEPA) is aimed at determining how privatization could lead to societies of Nigeria’s economic problems. The fact that transferring non-performing public enterprises to the... Continue Reading
THE IMPLICATION OF NIGERIA VALUE ADDED TAX (VAT) ON THE PAYERS A CASE STUDY OF ENUGU STATE ABSTRACT A research into the implications of Nigerian value Added Tax [VAT] on the payers [ a case study of Enugu State ] cannot be over –emphasized . In pursuance of this investigation , the research used both primary source of data collection , like oral... Continue Reading
THE IMPLICATION OF NIGERIA VALUE ADDED TAX (VAT) ON THE PAYERS A CASE STUDY OF ENUGU STATE ABSTRACT A research into the implications of Nigerian value Added Tax [VAT] on the payers [ a case study of Enugu State ] cannot be over –emphasized . In pursuance of this investigation , the research used both primary source of data collection , like oral... Continue Reading
THE IMPLICATION OF PRIVATIZATION ON NIGERIA ECONOMY (A CASE STUDY OF NIGERIA NATIONAL PETROLEUM COMPANY NNPC) ABSTRACT This work the implication of privatization on Nigeria economy a case study of Nigeria national petroleum corporation (NNPC) is to know how privatization will affect the economy of the country and the citizen of the country at... Continue Reading
THE ECONOMIC IMPLICATION OF ELECTRONIC BANKING IN OPERATIONS OF BANKS IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC) TABLE OF CONTENTS Chapter one: Introduction 1.1 Background of the study 1.2 Statement of the problem 1.3 Purpose/objective of the study 1.4 Research questions 1.5 Research hypothesis 1.6 Significance of the study 1.7 Scope,... Continue Reading