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THE IMPACT OF PETROLEUM SUBSIDY ON THE CONSUMPTION OF PETROLEUM PRODUCTS IN NIGERIA
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- Contributor: mr-chris
- engagements: 234
- Case No: 259795pw
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ABSRACT - [ Total Page(s): 1 ]The petroleum sector is an indispensable body in Nigeria economy. It has remained the Nigerian biggest revenue earner. It still brings in more than 80% of the foreign exchange earned by the country. However, this resulted in the shortage of the quantities of petroleum products consumed locally in the country. Hence, the problem of development is generally faced in Nigeria. This work will as well go to show what actually constitute the petroleum subsidy in Nigeria. It will analyze the cost to the government if not removed and the welfare of the local consumers. It will also reveal to a greater
... Continue Reading
CHAPTER ONE - [ Total Page(s): 4 ]It is self-evident that as at the year 2000 there is no subsidy removal or whatsoever on Petroleum products in Nigeria. Indeed, from current cost of refining at $10 per barrel sold to the NNPC refineries, the price of petrol (PMS) should be #15 per liter as against the pump price of #22 per liter. Thus the current price of PMS includes sufficient government task indicating that no subsidy exists on the current product prices.More so, when the naira hopefully recovers its lost grounds, a new (reversed) twist may be given for the problem of petroleum subsidizes. It goes to show t ... Continue Reading
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ABSRACT - [ Total Page(s): 1 ]The petroleum sector is an indispensable body in Nigeria economy. It has remained the Nigerian biggest revenue earner. It still brings in more than 80% of the foreign exchange earned by the country. However, this resulted in the shortage of the quantities of petroleum products consumed locally in the country. Hence, the problem of development is generally faced in Nigeria. This work will as well go to show what actually constitute the petroleum subsidy in Nigeria. It will analyze the cost to the government if not removed and the welfare of the local consumers. It will also reveal to a greater
... Continue Reading
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