Effects of Fuel Price Hikes on the Performance of Selected Business in Gwagwalada Area Council, Abuja

Student: Waliu Ayobami Adeoye (Project, 2025)
Department of Business Administration
University of Abuja, Abuja, Fct

Abstract

This study examined the effects of fuel price hikes on the performance of selected business in Gwagwalada area council, Abuja. The study utilized the descriptive survey method research design. The population of the study comprises of 240 employees of selected small businesses in Gwagwalada area council, Abuja, while the sample size was 150 with 20% margin of safety was added making it 180. The study used a close-ended questionnaire in collation of primary data. A total of 180 questionnaires were administered to the respondents out of which 170 questionnaires were valid and useful for analysis. The data were analyzed using the simple percentage method and the regression statistical technique was used in analyzing and testing the hypothesis. Having tested the hypothesis, findings revealed that an increase in fuel prices does affect the sales of selected small businesses in Gwagwalada Area Council. In conclusion, increases in fuel prices significantly affect the sales performance of small businesses in Gwagwalada Area Council. The study recommended that small businesses should implement cost management strategies to mitigate the impact of fuel price increases. This could include optimizing operational efficiencies, negotiating better fuel contracts, or exploring alternative energy sources to reduce reliance on fuel.

Keywords
gwagwalada council selected small businesses price performance abuja effects hikes
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