FUEL SCARCITY AND ITS IMPACT ON BUSINESS ORGANISATIONS IN EDO-NORTH DISTRICT

This research study focused on fuel scarcity and its impact on business organisations in the Edo-North district. The specific objectives of the study are to ascertain the relationship between fuel scarcity and the profit margin of a business organization; to examine the effect of fuel scarcity on the hike in prices of goods and services. The study adopted a survey research design, with the research instrument as a questionnaire formatted in line with the objectives of the study. The population of the study is three hundred and twenty-eight (328) respondents. The sample size was determined using Yarmane’s formula as one hundred and eighty (180) respondents. One hundred and sixty – five (165) questionnaires were collected for analysis; however, only 150 were found to contain usable data. The returned questionnaires were tested with chi-square with the aid of SPSS version 22. The findings reveal that there is a relationship between fuel scarcity and the profit margin of a business organization in Edo - North district and there is a significant difference between Fuel scarcity and a hike in prices of goods and services in Edo – North district. The study recommended, that the Nigeria government needs to take action to alleviate the problem of gas shortages, and NPPC and other stakeholders must use sound strategic management in the upkeep of Nigeria's refineries if the country is to avoid a gasoline shortage problem and all levels of government; federal, state, and Local government should form a local monitoring committee to keep tabs on product sales, and illegal distributors should be stamped out entirely.