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Those who have been following the argument for and against the deregulation of the oil industry in Nigeria may have got the impression that deregulation connotes lack of control or indifference on the part of the government. But there is nothing so far from official quarters to suggest that deregulation will cause the government to relinquish its control of the oil industry because the absence of direct control does not mean that it will surrender all its rights to the entrepreneurs who may want to participate in the industry. Yet the opposition expressed so far against stems from the fear that the government would leave Nigerians at the mercy of a heartless cartel who would command the heights of the oil industry and cause pump price of fuel to rise above the means of most Nigerians.
`As a result of such fears, many Nigerians have become resentful of deregulation and in fact the Nigeria Labour Congress (NLC) has threatened to ‘deregulate’ the government if it should go ahead with the deregulation plan. But Nigerians have not fared any better with the economy totally in government control. Until recently, the most important sectors of the economy were in the hands of the government. Today, the deregulation of some of these sectors has broken its monopoly and introduced healthy competition to make a little easier for Nigerians. A good example is the breaking of the stifling monopoly of Nigeria Airways. Today, the traveller is king at the domestic airports as opposed to the struggle that air travels used to be under Nigeria Airways monopoly. Before, it was almost easier for a camel to pass through the eye of a needle than for travellers to board a plane.
Following from this, the apostles of deregulation rightly heap all the blame for the problems associated with petroleum products distribution in this country squarely on the government, which owns all the refineries and which sells fuel to local consumers through its agency, the Nigerian National Petroleum Corporation (NNPC). In the same way, the government argues that if the current NNPC monopoly were broken with the introduction of entrepreneurs to the refining and sale of petroleum products in the country, the Nigerian people would be all the better for it. It stands to reason that once the government continues to fix maximum prices would be all the better for it. It stands to reason that once the government continues to fix maximum prices for petroleum products in this country, the deregulation of the oil sector should bring some relief to the people by ensuring that wastage, corruption and inefficiency are reduced to the minimum. Consumers will also have the last laugh because competition will result in the availability of the products at reasonable prices. This appears to be the sense in deregulation.
Choose the option nearest in meaning to the word underlined?
The debt the company incurred became rather intolerable?
Options:Choose the option opposite in meaning to the underlined word(s).
He gave himself up by his plebeian tastes?
Options:Choose the best option to fill the gaps in the following sentences:
Oxygen is necessary to life. Nothing can live without it. It was _____ a century ago
Options:Vacancies in the company will be notified by .....
Options:In the question below choose the option nearest in meaning to the underlined word or phrase:
The manager often quarrels with his staff because he goes around with a chip on his shoulder
Options:Fill in the gap with the most appropriate option from the list following the gap.
The old man couldn't help _____ at his grandson's babbling?
Options:choose the option nearly opposite in meaning to the word(s) underlined
James found the photocopied material invaluable while preparing for the examination
Options:Complete each of the following sentences by choosing the option that most suitably fills the space;
_____ mark an important step in the history of industrial revolution
Options:Choose the most appropriate stress pattern from the options. The stressed syllable are written in capital letters(s).
political
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