A Review of the Nigerian Energy Industry

Deregulation should be all embracing – National Planning Minister

Nkiruka Nnorom & Providence Obuh

20 November 2012, Sweetcrude, ABUJA – NIGERIA government’s move to deregulate the downstream petroleum sector should be expanded to cover other sectors of the economy, Minister of National Planning, Alhaji Shamsudeen Usman, has said.

Addressing a world press conference ahead of the upcoming 18th Nigerian Economic Summit, Usman said it was pertinent for the entire economy to be freed to allow for more development and private sector participation.

He remarked that the major issue to be looked at when considering subsidy of any nature was to identify that in the society, there were some people that needed support and ensure they were getting it.

Noting that subsidy should border more on its application, Shamsudeen stated that in some climes, subsidy could be an education loan scheme to relieve the less privileged.

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  • Dr. Shamssudeen Usman is right, the Nigerian government needs to deregulate other sectors of the economy to attract private sector participation and indeed, subsidy can be more judiciously applied to achieve the greatest possibly value.