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.
