Fuel distribution company, SGR, has tackled the Independent Petroleum Marketers Association of Nigeria (IPMAN), which raised concerns about the company’s pump price of N899 per litre and its alleged anti-competitive operations.
In a statement, the firm emphasized its commitment to transparency, fair pricing, and the well-being of Nigerian consumers.
SGR clarified that its current price is a reflection of prevailing market conditions, including the cost of fuel procurement, logistics, and the need to sustain service quality across all its outlets nationwide.
“Pricing in a deregulated downstream sector is shaped by multiple market forces,” the statement read. “Our pricing model is competitively aligned with these realities and is not intended to destabilize the market or place pressure on fellow marketers.”
IPMAN had recently argued that major marketers and the Nigerian National Petroleum Company (NNPC) Limited often sell fuel at lower prices than independent marketers, expressing that based on advantages like access to foreign exchange, logistics, and direct supply chains, put its members at a disadvantages since it relies on third-party supply sources and pay higher landing costs.
SGR also reaffirmed its willingness to engage in constructive dialogue with stakeholders like IPMAN to ensure a stable and sustainable fuel supply system in the country.
The organisation reiterated that it remains focused on delivering service excellence and maintaining the trust of its customers in the long term.
This development comes amid wider discussions around fuel pricing and distribution in Nigeria’s evolving energy market.
Since the deregulation of the Nigerian downstream petroleum sector, prices have been reflective based on how the international market operates, aligning with broader efforts to liberalise Nigeria’s oil and gas industry and attract private sector investment.
One of the major aspects of deregulation is that the Nigerian government does not strictly fix or subsidise fuel prices as it did in the past, thereby allowing market forces (demand and supply) to determine the pump prices. This is why prices now vary at different filling stations.