Expert: Will Petrol Queues in Nigeria Permanently Vanish After Subsidy Removal? [Video]

Policy experts and resource persons are analysing Nigeria’s persistent problems with its oil and gas industry, with an emphasis on the effects of removing fuel subsidies, deregulation of the downstream sector, refinery operations, and the possible advantages of privatisation. 

In a recent conversation on A Place at the Table on News Central TV, the crux was on Nigeria’s significant reliance on oil, a natural resource that has turned into a double-edged sword because of corruption and poor management.

The panellists discussed the implications for regular Nigerians who bear the cost of growing fuel prices of the government’s recent elimination of fuel subsidies, a major policy change. Nigeria’s state-owned refineries are inefficient and have a history of not meeting domestic demand, which raises serious issues.

Former Group Executive Director of Sahara Group, Tonye Cole, claims that while some people were shocked by the now-famous or infamous announcement made at Eagle Square on May 29, 2023, others viewed it as a daring declaration …