WORKING CAPITAL MANAGEMENT AND CORPORATE PERFORMANCE IN SELECTED QUOTED MANUFACTURING FIRMS IN NIGERIA.

This study examines the impact of working capital management (WCM) on the corporate performance in selected quoted manufacturing firms in Nigeria. Recognizing that effective WCM is crucial for maintaining liquidity, solvency, and profitability, the research focuses on key components such as the average collection period, inventory conversion period, average payment period, and cash conversion cycle. The research design used for this study is a quantitative approach, specifically a correlational research design. The study utilized secondary data, including financial statements from selected manufacturing firms listed on the Nigerian Stock Exchange. The study addresses the problem of insufficient understanding and management of working capital, which hampers corporate performance. Through a comprehensive analysis of data from five major firms—Guinness Plc, Dangote Plc, Nestle Plc, Cadbury Plc, and Unilever Plc—over a 16-year period (2008-2023), the research employs metrics such as Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin (NPM) to evaluate performance. The findings indicate a significant relationship between WCM practices and corporate performance, highlighting the importance of strategic management of working capital to enhance profitability and ensure liquidity. This study contributes to the existing literature by providing insights into effective WCM strategies and their implications for the sustainability of Nigeria's manufacturing sector, ultimately offering valuable recommendations for financial managers and policymakers.