ASSESSING THE IMPACT OF FINANCIAL INSTITUTIONS ON THE PERFORMANCE OF PETROLEUM MARKETERS IN NIGERIA: A STUDY OF ACCESS TO CREDIT AND FINANCIAL SERVICES

Abstract

This study assessed the impact of financial institutions on the performance of petroleum marketers in Nigeria, with particular focus on access to credit, financial advisory services, payment and transaction services, and insurance services. A correlational research design was adopted, and data were collected from 300 registered petroleum marketers using a structured questionnaire. The data were analyzed using descriptive statistics and Pearson correlation to test the study hypotheses at a 0.05 level of significance. The findings revealed a strong positive relationship between access to credit and performance, and significant positive relationships between financial advisory services, payment and transaction services, insurance services, and the performance of petroleum marketers. The study concluded that financial institutions play a crucial role in enhancing operational efficiency, profitability, and business resilience in the petroleum marketing sector. It was recommended that financial institutions improve access to credit, strengthen advisory services, provide efficient transaction systems, and promote insurance coverage to support petroleum marketers.