Incessant Price Increase of Petroleum Products and Entrepreneurial Sustainability in Nigeria: The Case of Delta State

The continuous rise in petroleum prices poses significant challenges for entrepreneurial sustainability in Nigeria, particularly impacting small and medium-sized enterprises (SMEs) in Delta State. This study examines the direct and indirect effects of fuel price increases on SMEs' operational costs, profitability, and long-term viability. Utilizing a mixed survey methods approach of data from 200 SMEs and interviews of 50 entrepreneurs reveal that rising fuel costs elevate business operational cost, reduce profitability, and constrain growth potential. The study also assesses the effectiveness of government policies to address the challenges posed by the incessant price increase and found that the current support measures are insufficient to alleviate the financial strain on SMEs. Recommendations include government-backed subsidies for renewable energy adoption, tax relief, infrastructure investment, and training in cost management to enhance SMEs' resilience against fluctuating fuel prices. These insights will contribute to policy discussions aimed at fostering economic stability and sustainability for Nigeria's entrepreneurial sector.