PRODUCTION COST MANAGEMENT AND PROFITABILITY OF SELECTED MANUFACTURING COMPANY IN NIGERIA 2013 - 2020
Abstract
This study examines the effect of production cost management on the profitability of selected manufacturing companies in Nigeria for the period 2013–2020. The study was motivated by the persistent increase in production costs and its implications for the financial performance of manufacturing firms in Nigeria. Secondary data were obtained from the published annual reports and financial statements of the selected companies. Production cost components such as direct materials, direct labour, and overhead costs were analyzed in relation to profitability indicators, including return on assets and net profit margin. The data were analyzed using descriptive statistics and regression analysis to determine the nature and strength of the relationship between production cost management and profitability. Findings from the study revealed that effective production cost management has a significant impact on the profitability of manufacturing companies in Nigeria. The study concludes that efficient control and reduction of production costs enhance profitability and overall firm performance. It therefore recommends that manufacturing firms adopt sound cost management strategies and modern cost control techniques to improve profitability and ensure long-term sustainability.
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