Petrol marketer justifies N899 pump price, cites market realities
Leading fuel distribution company, SGR, has defended its decision to sell Premium Motor Spirit at N899 per litre, citing current market realities and rising operational costs in Nigeria’s deregulated downstream oil sector.
The company’s response follows concerns raised by the Independent Petroleum Marketers Association of Nigeria, which described the pricing as steep and potentially destabilising for the market.
In a statement issued on Monday by its Corporate Communications Team, SGR stressed that its pricing structure was shaped by multiple variables, including fuel procurement costs, logistics, and the imperative of maintaining quality service across its network of outlets nationwide.
The statement read, “Pricing in a deregulated downstream sector is shaped by multiple market forces.
“Our pricing model is competitively aligned with these realities and is not intended to destabilise the market or place pressure on fellow marketers.”
The company reaffirmed its commitment to transparency, fair pricing, and the well-being of Nigerian consumers, noting that its pricing was neither arbitrary nor exploitative but a direct response to supply chain and operational challenges.
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SGR also emphasised its readiness to engage stakeholders like IPMAN in constructive dialogue aimed at fostering a stable and sustainable fuel distribution environment across the country.
“We remain open to dialogue and collaboration with all stakeholders to ensure a fuel supply system that is stable, equitable, and in the best interest of the Nigerian public,” the statement added.
This development comes amid growing conversations around fuel pricing and distribution following the full deregulation of the petroleum downstream sector.
Many marketers have cited foreign exchange volatility, supply chain bottlenecks, and rising transport costs as major drivers of current pump prices.
SGR reassures the public of its continued focus on “delivering service excellence and maintaining the trust of its customers in the long term.”
