The Financial Performance of Nigerian Manufacturing Firms and Risk Management Practices

Abstract

The techniques of risk management and the financial results of Nigerian manufacturing companies were the main topics of this essay. The study used a quantitative, cross-sectional research design. In order to analyze the data that was collected for the study, both descriptive and inferential methods were used. The hypotheses were tested using the regression method at the 0.05 or 5% level of significance. According to this study, risk management practices greatly improve the performance of manufacturing organizations, and Risk Awareness and control has a considerable impact on that performance. As a result of the study’s findings, it was suggested that management in the manufacturing sector make sure their Risk Awareness and control is efficient and effective since it has an impact on how well manufacturing organizations operate. Manufacturing company management should guarantee that effective risk management practices, such as early risk identification, risk assessment, and efficient risk Control/Reduction system, are in place to assure an increase in the performance of the manufacturing sector.