ABSTRACT

This study focused on subsidy removal and effective marketing of petroleum product in Nigeria. The study targeted one hundred and seventy-one (171) respondents who were employees of major fueling stations in Benin City, of which same number of questionnaires were distributed with all completely retrieved and filled, yielding an impressive 100.0% response rate, ensuring the subsequent analyses are built on a substantial foundation of respondent input. The findings arrived at after the empirical analysis includes that: the removal of fuel subsidies significantly affects the pricing strategies of petroleum products in Nigeria, that subsidy removal does not have a significant impact on the supply chain and distribution networks of petroleum products in Nigeria, the removal of fuel subsidies significantly influences consumer behavior and demand for petroleum products in Nigeria, subsidy removal does not significantly affect the promotions of petroleum products and that fuel subsidy removal does not significantly affect the competitiveness of the Nigerian petroleum industry in the global market. Based on these findings, it was recommended that: stakeholders to develop more transparent and flexible pricing models, companies should focus on strengthening these aspects independently of subsidy considerations, fueling stations and marketers should actively educate consumers on the reasons and benefits of subsidy removal, which may include the long-term sustainability of Nigeria’s petroleum sector and economic stability, marketers should not overlook the potential of innovative promotional strategies to attract and retain customers and improving product quality, enhancing operational efficiencies, and adopting international best practices can elevate the global stature of Nigeria’s petroleum industry. By focusing on these areas, Nigeria can better position itself as a competitive player in the international petroleum market, independent of subsidy considerations.