POST COVID 19 PANDEMIC EFFECT ON MANUFACTURING FIRM FINANCIAL PERFORMANCE: THE NIGERIAN PERSPECTIVE

Abstract

COVID pandemic, which diver stated the world economy was a thing of great concern to all business going concern. This paper is centered on Xraying the effect of COVID 19 Pandemic and the going concern of manufacturing firms on financial performance, the Nigeria perspective. The paper examined the various strategic approaches which firms have adopted to ensure efficient management of working capital, using a good inventory procurement technique that gives the firm the most economic advantage. The study adopted a theoretical approach the use of secondary data, literature empirical and theoretical reviews and studies done by other authors. The study found out that successful manufacturing firm employed an improved management technique coupled with a redefined credit policy to manage receivables and payables in order to improve their cash flow. The paper therefore, concluded that aggressive advertisement and competitive strategies with good customer relation towards were necessary towards ensuring an improved turnover. The study thus recommended that no new project should be undertaken, unless such project is designed for the improvement of the immediate business situation on hand. It went further to suggest that the firms should prioritize their spending both on capital expenditure and recurrent as to achieve effective cost management to ensure profitability.