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Fuel Marketer Defends N899 Pump Price, Cites Economic Pressures

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Fuel distribution company, SGR, has justified its N899 per litre price for Premium Motor Spirit, attributing the figure to prevailing economic conditions and increasing operational costs in Nigeria’s deregulated petroleum sector.

This statement came in response to criticisms from the Independent Petroleum Marketers Association of Nigeria (IPMAN), which described the price as excessive and potentially harmful to market stability.

In a release issued Monday by its Corporate Communications Team, SGR explained that its pricing decisions are influenced by various factors, including the cost of fuel acquisition, transportation logistics, and the need to sustain quality service delivery across its national network.

“Pricing in a deregulated sector is influenced by several market forces,” the statement read. “Our pricing reflects these realities and is not intended to disrupt the market or disadvantage other marketers.”

The company reiterated its commitment to fairness, transparency, and consumer protection, clarifying that the price point is a result of real-world supply chain and operational challenges rather than arbitrary markups.

SGR also expressed willingness to engage with stakeholders such as IPMAN to ensure a more stable and sustainable fuel supply framework nationwide.

“We are open to constructive discussions and collaborations with all stakeholders to maintain a balanced and efficient fuel distribution system that serves the interests of all Nigerians,” the statement added.

The price increase has fueled public debate around fuel costs following the full deregulation of Nigeria’s downstream petroleum sector.

Several industry players have attributed rising pump prices to forex instability, logistics hurdles, and surging transportation expenses.

SGR concluded by reaffirming its dedication to delivering high-quality service and sustaining the trust of its customers over the long term.

BIG STORY

Some Politicians Funding Terrorism In Nigeria, Says Ex-CDS Lucky Irabor

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Lucky Irabor, ex-chief of defence staff (CDS), says some political actors are involved in terrorism financing in Nigeria.

On November 30, Daniel Bwala, Special Adviser to President Bola Tinubu on policy communication, said the federal government would soon reveal the identities of terrorism sponsors.

Bwala said the government is “making far-reaching decisions”, adding that the outcome would be noticeable shortly.

The presidential aide said terrorism is a global problem, adding that “the demand is now on the world governments to see how they can cooperate with Nigeria”.

Speaking on ‘Politics Today’, a Channels Television programme, on Monday, Irabor said certain politicians exploit insecurity for personal advantage.

Asked directly if politicians fund terror networks, he replied with “some politicians”.

Irabor said some party chieftains capitalize on instability to create an impression that they can offer better leadership.

“Some politicians have now taken advantage of the state of under-governance, as it were, to perhaps gain some form of leverage to give the impression that they can do better,” he said.

“Others perhaps want to give an impression they can do better, to score the point that there is poor governance… they could also instigate a certain crisis one way or the other.

“Those who believe that it’s purely political, maybe, have their argument from that angle. For me, it will be wrong.”

Irabor also addressed criticisms of the federal government’s refusal to publish names of alleged terror financiers.

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BIG STORY

JUST IN: Tinubu Nominates Ex-CDS Christopher Musa As Defence Minister

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President Bola Tinubu has nominated a former Chief of Defence Staff, General Christopher Musa, as the new Minister of Defence.

The nomination was contained in a letter sent to Senate President Godswill Akpabio on Tuesday, announcing Musa as the replacement for Alhaji Mohammed Badaru, who resigned from the position on Monday due to health reasons.

In his letter to the Senate, the President expressed confidence in Musa’s capacity to lead the Defence Ministry and strengthen Nigeria’s security framework.

The nomination was confirmed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.

The statement added, “General Musa, 58, on December 25, is a distinguished soldier who served as Chief of Defence Staff from 2023 until October 2025. He won the Colin Powell Award for Soldiering in 2012.

“Born in Sokoto in 1967, General Musa received his primary and secondary education there before attending the College of Advanced Studies in Zaria. He graduated in 1986 and enrolled at the Nigerian Defence Academy the same year, earning a Bachelor of Science degree upon graduation in 1991.

“General Musa was commissioned into the Nigerian Army as a Second Lieutenant in 1991 and has since had a distinguished career. His appointments include General Staff Officer 1, Training/Operations at HQ 81 Division; Commanding Officer, 73 Battalion; Assistant Director, Operational Requirements, Department of Army Policy and Plans; and Infantry Representative/Member, Training Team, HQ Nigerian Army Armour Corps.

“In 2019, he served as Deputy Chief of Staff, Training/Operations, Headquarters Infantry Centre and Corps; Commander, Sector 3, Operation Lafiya Dole; and Commander, Sector 3 Multinational Joint Task Force in the Lake Chad Region.

“In 2021, General Musa was appointed Theatre Commander, Operation Hadin Kai. He later became Commander of the Nigerian Army Infantry Corps before being appointed Chief of Defence Staff by President Tinubu in 2023.”

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BIG STORY

South Africa Begins Use Of Groundbreaking HIV Prevention Drug

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South Africa has begun administering lenacapavir, a long-acting HIV prevention drug, to selected individuals as part of a new study led by Wits RHI at the University of the Witwatersrand and funded by Unitaid.

The move comes just five months after the US Food and Drug Administration granted its first approval for the drug’s use in HIV prevention.

Lenacapavir has shown remarkable results in clinical trials, offering near-complete protection against HIV and outperforming existing pre-exposure prophylaxis (PrEP) options.

The injectable drug is taken twice a year and was initially projected to cost about $28,000 per user annually.

However, a pricing deal brokered by the Clinton Health Access Initiative (CHAI), working alongside Dr Reddy’s Laboratories, Unitaid, the Gates Foundation, and Wits RHI, has slashed the cost to about $40 — a reduction aimed at making the drug affordable in low- and middle-income countries.

In a statement on Monday, Unitaid said the study will provide the Department of Health with the evidence they need to adapt quickly and in real time as they integrate lenacapavir into existing HIV prevention programs.

“These early learnings on real-world use will also apply to other countries adopting lenacapavir,” the statement reads.

“Making new medicines widely available in low- and middle-income countries can take up to a decade or longer as regulatory approvals must be obtained, manufacturing must be secured, and prices must come down.

“Global momentum behind lenacapavir has set the drug on a rapid trajectory: South Africa registered the drug in record time in late October, followed by Zambia in November, and the first doses have already been delivered in Zambia and Eswatini through The Global Fund and PEPFAR. Broader rollout in early adopter countries is expected in early 2026.”

Aaron Motsoaledi, South Africa’s minister of health, said the country is working with relevant stakeholders to make lenacapavir available to the most vulnerable populations who are at higher risk of HIV infections.

“These early efforts from Unitaid and Wits RHI will help us fine-tune how lenacapavir is delivered through our health system so we can reach as many people as possible with this new Pre-Exposure Prophylaxis (PrEP) option, especially adolescent girls, young women, and pregnant and breastfeeding women,” he said.

In Brazil, a similar study led by Fiocruz is also underway.

Insights and tools from the Fiocruz study in Brazil will help guide rollout strategies within the country and across Latin America.

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