State-owned oil firm NNPC is making changes in Nigeria’s downstream sector but Africa’s leading oil exporter will remain reliant on refined products imports. The downstream sector is marred by dysfunctional stateowned refineries and a widely abused government subsidy scheme on domestic gasoline and diesel prices. Opaque crude-for-refined products swaps arrangements have cost Abuja billions of dollars, at a time when government funding is under severe pressure because of sustained lower crude prices (WPA, 28 August, p5).
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