Experts in the oil and gas sector have said the current regulated pricing of Premium Motor Spirit (PMS) in Nigeria, is significantly hindering private-sector refineries from adopting a cost-reflective approach. They argued that this approach discourages investment in refining, infrastructure and technology, impacting the sector's competitiveness and sustainability. Adding that controlled pricing also prevents private refineries from setting prices that reflect their production costs, they said this further undermines their ability to operate profitably and deters further investment in the sector. Energy expert, Prof. Dayo Ayoade told The Guardian that controlled PMS pricing is part of the problems preventing investments in the refineries, adding that market pricing is still being controlled by the government despite the purported removal of subsidy. The post 'Regulated PMS market hindering private refineries' investment'
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