EFFECT OF RISK MANAGEMENT ON FINANCIAL PERFORMANCE OF THE LISTED OIL AND GAS COMPANIES IN NIGERIA
Abstract
This study examined the effect of Risk Management on Financial Performance of the listed oil and gas companies in Nigeria. The specific objectives was to examined risk management committee size, risk management committee diligence, risk management committee independence and risk management committee expertise on financial performance of return on assets, which is the dependent variable. The study adopted research design known as the ex-post-facto. The research made use of 9 oil companies listed in Nigeria from 2019–2023. The study made use of secondary data that come from the five oil and gas companies listed on the EXCH (NGX) that were audited during the previous year. Statistical Package for Social Sciences (SPSS version 23). It was found out that there is a significant relationship between risk management and financial performance of oil and gas companies in Nigeria. It was concluded that there is a relationship between oil and gas companies and risk management as regards their financial performance. It was then recommended that oil and gas companies in Nigeria should take the activities in risk management very seriously to enhance financial performance.
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