INTERNATIONAL JOURNAL OF BUSINESS EDUCATION AND MANAGEMENT STUDIES

Abstract

This study investigates the multifaceted impact of fuel subsidy removal on Nigerian enterprises and explores strategies employed by businesses to navigate market disruptions. To guide the conduct of this study, three research objectives and questions were formulated. Utilizing a questionnaire/interview approach with a purposive sample of 150 enterprises, the research elucidates the challenges faced by Nigerian businesses post-subsidy removal and examines their resilience-building measures. Analysis of the data reveals significant effects of subsidy removal on operational costs, transportation expenses, and pricing strategies, corroborating with previous studies. Moreover, the study identifies primary market disruptions including unpredictable demand and inadequate infrastructure, underscoring the need for resilient strategies. Findings indicate that Nigerian businesses employ diverse tactics such as energy source diversification, supply chain optimization, and cost-saving measures to cultivate resilience. This research contributes to the understanding of market dynamics in Nigeria and offers insights for businesses to adapt to changing economic landscapes, particularly in the context of fuel subsidy removal. Recommendations include government efforts to provide clear energy policies, businesses diversifying energy sources, and enterprises optimizing supply chains. This study contributes valuable insights for policymakers, industry practitioners, and researchers in fostering resilience amidst market uncertainties.