THE GENESIS OF PETROLEUM SUBSIDY POLICY, AND THE CHALLENGE OF PETROL SHORTAGES IN NIGERIA.

Opinions have differed sharply in Nigeria on the continued existence of fuel subsidy. The opponents of the government-planned removal of fuel subsidy argue that the existence of fuel subsidy is a fallacy. On the other hand, the proponents opine that the existence of fuel subsidy is a fact. The objective of this study is to empirically examine these claims and counterclaims. This article traced the genesis of the subsidy regime in Nigeria. The author utilized both primary and secondary data to historicize the phenomenon of subsidy policy in Nigeria’s downstream stream sector. Primary data was generated through interviews with relevant stakeholders in the petroleum industry in Nigeria. On the other hand, the secondary sources were obtained at the NNPC library and the University of Exeter Library