PROJECT TOPIC : AN EVALUATION OF THE ROLE OF THE GOVERNMENT IN FUEL SCARCITY MITIGATION IN NIGERIA
CHAPTERS: Chapter 1 – 5
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Keywords:AN EVALUATION OF THE ROLE OF THE GOVERNMENT IN FUEL SCARCITY MITIGATION IN NIGERIA
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF THE PROBLEM
1.3 OBJECTIVES OF THE STUDY
1.4 RESEARCH QUESTIONS
1.5 SIGNIFICANCE OF THE STUDY
1.6 RESEARCH HYPOTHESES
1.7 SCOPE OF THE STUDY
1.8 LIMITATION OF THE STUDY
1.9 DEFINITION OF TERMS
2.0 LITERATURE REVIEW
2.1 CONCEPTUAL CLARIFICATION
2.2 THEORETICAL FRAMEWORK
2.3 EMPIRICAL REVIEW
2.4 SUMMARY OF LITERATURE REVIEW
3.0 RESEARCH METHODOLOGY
3.2 RESEARCH DESIGN
3.3 STUDY POPULATION
3.4 SAMPLE AND SAMPLING TECHNIQUE
3.5 DATA FOR THE STUDY: INSTRUMENTATION
3.6 METHOD OF DATA ANALYSIS
4.0 DATA PRESENTATATION AND ANALYSIS
4.2 DATA ANALYSIS
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS
- BACKGROUND OF THE STUDY
Until the early 70’s, the mainstay of Nigeria economy was agriculture. Then the country was famed for her proficiency in the production of groundnuts hence the Kano groundnut pyramids, oil palm and the faster part of cocoa in the western part of the country.The discovery of oil in the country in commercial quantities brought about radical changes in the economy of the nation. All other sectors seemed to have gone into oblivion and indeed were abandoned thereby making the country to be totally dependent on oil for her foreign exchange earnings; not agriculture any more. All effort made since then to diversify the economy of the country have come to naught. Expectedly the narrowing of the economy to a monolithic export commodity has its attendant drawback as oil by virtue of its importance to the economics of nations has inevitably become a subject of political manipulation. But the greater danger for Nigeria is that as a sole commodity of the nation and the inherent total dependency on oil has made the country’s economy revolve around it. Virtually all essential service rendered in the country revolves it. Almost all other sectors of the economy depend on oil.Any contemplation therefore of a possible scarcity or unavailability of the product will no doubt spell doom for the economy of the country (Sikkam, 2009). Yemi(2012) opined that full scarcity has plagued the nation recently appeared to be worse at the beginning of these years it caused a lot pain anguish and dislocation of economic and sundry activities. There was hardly any individual industries institutions and organization in Nigeria today that was not severely affected. It is widely believed in government circles what perennial fuel crisis is largely caused bottlenecks in the distribution system. But a survey show that the bottlenecks and other associated problem are caused by conflicting activities of multifarious government agencies. Besides there are problem of manpower shortage inadequate funding lack of materials legal limitation and safely of personnel which officials explained have hundred departments to petroleum resources (DPR) in the petroleum products which increase the crisis in Nigeria despite the effort of DPR some encourage and sell adulterated fuel(Nwankwor,1981). The crisis situation worsening day after day when some fuel stations sold fuel in the night to the a black markets in which they will increase the rate from N350 to N500 per gallon depending on the level on the level of adulteration with kerosene. The fuel scarcity was believed to be worse in certain occasions by hoarding fuel diversion smuggling and under deliver at retails outlets have been rampant with the overall co-operation monitoring and general supervision of product random sampling at several filling stations and observed that the perennial fuel shortage was caused by filling stations. Despite all the efforts of the ministry and parastatals the NNPC has almost found it impossible to eliminate the activities of saboteurs in the oil industry in the country. Investigation has shown that between January and March 1999 Nigeria has had a daily local consumption of 8.509 million liters of fuel supported with 6.883 million liters imported fuel thereby bringing the product available to 15.392 million litters. Allwell (2012) suggests that smugglers and saboteurs in the country contributed so much to the scarcity. Despite the NNPC official attempt to arrest the lingering fuel crisis culminating in the first even “operation crush” nationwide exercise the problem has refuse to go. The station is blamed on the activities of economic saboteurs who divert greatest percent of the fuel supply meant for daily consumption to the black market. Nwosu (2009) said that as long as poor pricing of petroleum product the high pricing in neighboring countries continued the smuggling of oil outside the country would remain a lucrative business. Arinze (2011) opined that the fuel shortage is a reflection of bad management. Irrespective of the negative effects of fuel price increase, the Federal Government of Nigeria on January 1st, 2012 ceased to subsidize petroleum In Nigeria, for decades Nigerians have enjoyed low gasoline prices, Now that this benefit has ended, what are the economical implication other that the popular planed protest by various groups such as labor, occupy Nigeria and fuel subsidy, on the nation. The economic effects, without auguring for or against subsidy removal, are what this paper will try to capture. The Government of Nigeria would have to consider these effects now or deal with it In the near future. Osogie (2012) opined that the growth of real GDP will reduce if the price of petrol is to stay as is. In addition, the rise in petrol price and the certainty of uneven prices across the federation, will add anywhere from 3 to 5 percentage points to consumer price inflation for 2012.Households’ income and spending will both be affected by the rise in petrol prices. The value of minimum wage compensation will depreciate further (assuming it is finally at N18, 000) combined with the increase in inflation. At the same time, the average household’s annual spending on energy goods and services will rise by about N75, 000, and their saving rate will drop sharply. The fall in the saving rate, will erode about half of Nigeria’s present middle-class citizens and further dampen the negative effects that higher prices would ordinarily have had on the economy in the short run. Consumer spending will be diminished greatly over the next few years, as citizens try to adjust and build up new savings.
1.2 STATEMENT OF THE PROBLEM
The high cost of full price has paralyzed social and economic activities in and around Kogi State and as a result, there has been a noticeable hike in prices of commodities and products in markets. A market survey carried out recently in various parts of Kogi State such as Itobe market and Anyigba market showed that the high prices were occasioned by the scarcity of petrol. Building material markets at Lokoja and Okene have recorded a tremendous price increase of late. A glance at the prices show that building materials like the complete white bath tub which used to be N 9,375.00 in August 2011 now goes for N11,500.00 a bundle of zinc now cost N10,200.00 compared to N8,000 in August 2011. Also a glance at the food stuff market recorded considerable increase as a bag of rice that used to be sold for N7, 000 in 2011now sells for N9, 000.00 while Beans (brown) is now N6, 550 against N4, 500.00 in August 2011.Some of the market people spoken to attributed the increase to the removal of fuel subsidy which led to increase in fuel pump prices. They complained that the cost of transporting the materials and commodities from the point of purchase to the place of the business has increased, consequently patronage has dwindled as a result of ever increasing prices. Transporters on their part complained that getting their tanks filled in the face of fuel scarcity is very difficult as at times their vehicles are abandoned at the filling stations for days. At other times they have to patronize the black market at a very high cost which leads to a corresponding higher transportation costs. The problem also affects civil servants, businessmen, students and lecturers adversely. It is therefore on this backdrop that the researcher wants to examine the impact of the above enumerated problems as a result of fuel price increase on Nigerian economy.
1.3 OBJECTIVES OF THE STUDY
The aim of this studies is to critically analyze the role of the government towards poverty alleviation in the country. The objectives are:
- Examine effect of the recent increases in fuel prices on economic growth in Nigeria
- Analyze effects of fuel price hike on purchasing power
- Assess Implications of increase in pump price of petroleum on food security in Nigeria
1.4 RESEARCH QUESTIONS
- What effect has the recent increases in fuel prices on economic growth in Nigeria?
- To what extent have the effects of fuel price hike on purchasing power in Nigeria?
- What are the implications of increase in pump price of petroleum on food security in Nigeria?
1.5 SIGNIFICANCE OF THE STUDY
In Nigeria fuel scarcity is really assuming a crisis level. Therefore the study will be relevant in that
- It will provide an insight into the relevant literature
- It will help to lay a bare the causes and effects fuel scarcity in Nigeria
- It will help the general populaces to appreciate the fact that fuel scarcity and poverty is twin scourge that need to be faced in order to achieve economic growth and development.
- It is expected that through the findings and subsequent recommendations of this study, poverty and fuel scarcity will be reduces or eradicated.
- Finally it is the opinion of the researcher because it will serve as a spring board for further research.
1.6 SCOPE OF THE STUDY
This research work covers Lokoja local government area in Kogi state, this is because lokoja is the capital city of the state and there is enough activities in the state. Also this research work will look into the causes and effect of fuel scarcity in Nigeria and proffer solution to some of the problem of fuel scarcity.
1.7 LIMITATION OF THE STUDY
The challenge of finance for the general research work will be a challenge during the course of study. Correspondents also might not be able to complete or willing to submit the questionnaires given to them.
However, it is believed that these constraints will be worked on by making the best use of the available materials and spending more than the necessary time in the research work. Therefore, it is strongly believed that despite these constraint, its effect on this research report will be minimal, thus, making the objective and significance of the study achievable.
Keywords: AN EVALUATION OF THE ROLE OF THE GOVERNMENT IN FUEL SCARCITY MITIGATION IN NIGERIA