The impact of economic policies on consumer confidence in Nigeria: An evaluation of fiscal reforms in Abuja (2000–2020).
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Background of the study:
Economic policies, particularly fiscal reforms, are central to shaping consumer confidence and overall market sentiment. In Abuja, fiscal reforms implemented over the past two decades have targeted tax reforms, public spending, and revenue generation to stabilize the economy and enhance transparency. These measures are believed to foster a sense of economic security among consumers by reducing uncertainty and encouraging spending. Improved fiscal management has the potential to lower inflation, enhance public services, and stimulate economic growth—all critical factors that bolster consumer confidence (Ibrahim, 2023). However, inconsistent policy implementation and external economic shocks have occasionally undermined these reforms. Recent literature suggests that while fiscal reforms can have a positive impact on consumer sentiment, their effectiveness is contingent upon a stable macroeconomic environment and robust policy enforcement (Chukwu, 2024; Oluwaseun, 2025). This study examines the linkage between fiscal reforms and consumer confidence in Abuja, providing empirical insights into how policy measures translate into consumer behavior and overall economic resilience.
Statement of the problem:
Despite the implementation of fiscal reforms aimed at boosting consumer confidence, Abuja continues to witness fluctuating consumer sentiment. Factors such as inconsistent policy application, external economic pressures, and delayed policy responses contribute to uncertainty among consumers (Ibrahim, 2023; Chukwu, 2024). This volatility undermines spending and hampers economic recovery. The study seeks to identify the determinants of consumer confidence and assess the effectiveness of fiscal reforms in addressing these issues.
Objectives of the study:
- To evaluate the impact of fiscal reforms on consumer confidence in Abuja.
- To identify factors influencing consumer sentiment.
- To propose policy measures to stabilize consumer confidence.
Research questions:
- How do fiscal reforms affect consumer confidence in Abuja?
- What factors contribute to fluctuations in consumer sentiment?
- What policy measures can enhance consumer confidence?
Research Hypotheses:
- Fiscal reforms positively impact consumer confidence.
- External economic shocks and policy inconsistencies reduce consumer confidence.
- Consistent fiscal policies lead to higher consumer confidence.
Significance of the study:
This study is significant as it explores the relationship between fiscal reforms and consumer confidence in Abuja. Its findings will offer critical insights for policymakers seeking to create a stable economic environment that fosters consumer spending and overall market resilience (Oluwaseun, 2025).
Scope and limitations of the study:
This study is limited to evaluating fiscal reforms and their impact on consumer confidence in Abuja, focusing on policy consistency and macroeconomic stability.
Definitions of terms:
- Fiscal Reforms: Adjustments in government spending and taxation policies.
- Consumer Confidence: The degree of optimism that consumers feel about the overall state of the economy.
- Macroeconomic Stability: The state of an economy characterized by steady growth and low inflation.
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