Fuel distribution company, SGR, has responded to criticism from the Independent Petroleum Marketers Association of Nigeria (IPMAN) over its N899 per litre pump price, insisting prevailing market forces drive the rate.
The response comes amid concerns over rising fuel prices and supply challenges in Nigeria’s deregulated downstream sector, as marketers and consumers alike continue to grapple with high costs and inconsistent availability.
In a statement issued by its corporate communications team, SGR said the pump price reflects current realities such as the cost of fuel procurement, logistics, and the need to sustain service quality across all its outlets.
“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 said.
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SGR said its pricing decisions are guided by transparency and fairness, noting that it remains committed to the well-being of Nigerian consumers.
“We understand the concerns raised by stakeholders like IPMAN. However, our intention has always been to balance affordability with operational sustainability in a challenging economic environment,” the statement added.
The company also expressed its willingness to engage with key players in the sector to ensure fuel supply stability.
“We remain open to constructive dialogue and collaboration. The only way to achieve a sustainable fuel supply system is through mutual understanding and shared responsibility,” the company said.
