EFFECT OF COST CONTROL AND COST REDUCTION ON PROFITABILITY OF MANUFACTURING FIRMS IN NIGERIA (A CASE STUDY OF YALE FOODS NIGERIA)

This study aims at discussing how cost control could be effectively administered in order to regulate expenses so as to bring about increased returns in term of profitability and not diminish it. The data was collected via secondary sources from the audit financial report of the firm. Multiple regression analysis was adopted in analyzing the data of the study. This study employed ex-post facto research design using panel data analyses of financial information extracted from published financial statements and accounts of consumer goods manufacturing firms on the Nigerian Stock Exchange. The study examines the influence of cost control on the survival of Consumer Goods Sector in Nigerian. The study used finance costs, salaries and wages, and cost of goods sold to measure the extent to which various cost-cutting techniques were used in the industry. This study was conducted primarily to determine whether or not cost-control measures used in manufacturing organizations were beneficial. The effectiveness of the strategies may be traced back to cost control and cost reduction profitability of consumer goods in Nigeria.