Introduction
On the 11th of May, Nigeria topped the BBC news headlines with the headline that Nigeria had decided to raise the petrol prices in order to ease the shortages in the country. For an economist, this kind of a news headline is bound to trigger your thoughts as to why this particular nation had decided to increase the prices having in mind the fact that the country is Africa’s largest producer of oil and also it has a fair share of the international oil market. The country’s legislative arm stated that it had found it wise to ...
