Title: Corporate Restructuring And Strategic Market Position Of Oil And Gas Firms In Nigeria
Authors: Macaulay E. Wegwu & Okoro, Chimdi Emmanuel
Volume: 9
Issue: 8
Pages: 169-176
Publication Date: 2025/08/28
Abstract:
This study examined the influence of corporate restructuring on the market share position of oil and gas firms in Nigeria. The problem of the research was based on the fact that as a major driver of the Nigeria economy, the sector still encounters issues of weak strategic market position arising from inconsistent client loyalty, slow product and service innovation, reliance on traditional market strategies and inability to adapt to new technologies. The research therefore presented four research questions and four hypotheses focusing on technological restructuring and marketing restructuring on the strategic market position of oil and gas firms in Nigeria. The study population comprised 1,750 registered oil and gas firms obtained from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), from which a sample size of 328 was determined using Taro Yamane's formula. The research adopted a cross-sectional survey design, using a structured five-point Likert scale questionnaire administered to management-level respondents with operational, strategic, and managerial expertise. The Stratified and simple random sampling techniques ensured sectoral representation across upstream, midstream, and downstream segments. Data were analyzed using Pearson Moment Correlation Coefficient at a 0.05 significance level. Findings revealed a strong, positive, and statistically significant relationship between technological restructuring and strategic market position (r = 0.712, p = 0.000), as well as between marketing restructuring and strategic market position (r = 0.853, p = 0.001). These results indicate that technological and marketing restructuring are critical drivers of competitive advantage, market relevance, and customer loyalty in Nigeria's dynamic oil and gas sector. The study recommends that firms integrate technological restructuring into their core strategies and develop flexible, data-driven marketing frameworks to enhance positioning in a competitive and transitioning global energy market.