Deregulation , defined as the reduction or elimination of government oversight within specific industries, has emerged as a critical policy direction for fostering market competition and stimulating economic growth in Nigeria . The government has increasingly argued that deregulation allows businesses to operate with fewer bureaucratic constraints, thereby freeing up capital and resources that can be reinvested into further innovation and expansion. In Nigeria’s context, proponents of deregulation contend that by transferring the role of supplier from the government to the private sector, particularly in strategic areas like the petroleum industry, market forces can determine prices more efficiently, leading to a more dynamic and responsive economic environment (Stiglitz, 1989). Deregulation stimulates competition, ensures efficiency, and promotes transparency in the economy of Nigeria. Extensively, the issues are hereunder discussed. One of the core arguments for deregulation, as...
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