Abuja — Energy experts yesterday in Abuja raised concern over Nigeria's growing under-recovery or subsidy on Premium Motor Spirit (PMS), which currently stands at N1.4 trillion. The experts, including the President of Nigerian Association for Energy Economics (NAEE), Prof. Wumi Iledare and Professor of Energy Economics, Adeola Adenikinju said unless there was a total deregulation of the country's downstream petroleum sector, addressing inherent challenges in the industry, particularly attracting investors would remain elusive.
Speaking at a press conference ahead of the 11th international conference of the association, which starts in Abuja tomorrow, Prof. Iledare said the rising under recovery was depriving Nigeria the gains of increasing oil price and create a glut in the nation's economy on the long term.
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