The fuel subsidy issue has long been a source of controversy and distrust in Nigeria, and the recent announcement that "Subsidy is gone!" in May 2023 has sparked heated debates. While some view this as a much-needed step towards addressing the country’s economic challenges, others question whether the removal of the subsidy will truly eliminate the fuel scarcity and inefficiencies that have plagued the nation for years.
The conversation also turns to privatisation as Nigeria’s oil and gas sector grapples with its future. Why are many hesitant to privatise, despite the success of companies like Indorama in revitalising the Eleme Petrochemical Plant? The failed attempt to privatise the Port Harcourt and Kaduna refineries in the Dangote/Otedola Blue Star deal further complicates the issue, raising concerns about transparency and political As, the conversation also turns to privatisation
With major international oil companies divesting their assets, the opportunity for indigenous companies to take the lead is more apparent than ever. But are they ready? The discussion explores the capacity of these companies to fill the gaps left by divestment, focusing on human, technical, financial, and institutional capabilities.
The programme also investigates why Nigeria continues to import refined petroleum products despite being one of the world’s largest oil producers. With NNPC’s challenges in managing its refineries, can the country ever develop a sustainable refining capacity? What role can government incentives play in attracting foreign and local investment in the sector?
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