WORKING CAPITAL FINANCING UNDER THE STRUCTURAL ADJUSTMENT PROGRAMME (SAP): A CASE STUDY OF QUOTED MANUFACTURING FIRMS IN NIGERIA

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dc.contributor.authorLAWAL, ALIYU MOHAMMED
dc.date.accessioned2014-03-10T09:17:58Z
dc.date.available2014-03-10T09:17:58Z
dc.date.issued1994
dc.descriptionA PROJECT SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF MASTERS DEGREE IN BUSINESS ADMINISTRATION, TO THE DEPARTMENT OF BUSINESS ADMINISTRATION AHMADU BELLO UNIVERSITY, ZARIA. 1994en_US
dc.description.abstractThe Structural Adjustment Programme (SAP) is a house hold word in, Nigeria. It represents an economic "War" on households and firms who supply the households w i t h goods and services. Two years after the introduction of the structural adjustment programme in 1986, it became obvious that many manufacturing firms had collapsed while some reduced their levels of activity such that plant capacity Utilisation in this sector was input at an average of 32.5 percent. The Manufacturing Association of Nigeria attributed the low capacity utilisation inadequate working capital. The purpose of this study therefore, is to identify factors that will enhance working capital flow to the manufacturing sector within the context of the structural adjustment programme.. A sample of twenty (20) firms was selected from the Stock Exchange Official list. Data were collected through questionnaires. The variables studied include: Business operating cycle, volume of Investment in working capital, sales volume, Bank Credits and source of raw materials. Tools of analysis were the simple correlation, Mann-whitney U-Test, i i i Kendall Coefficient of concordance, percentages and proportions. Base on the data, collected and tested, we confirmed that there is a positive and significant relationship between business operating cycle and working capital requirement. Our analysis revealed that firms still depend on bank Loans and overdrafts to finance working capital needs while others such as debt - factoring and invoice discounting are yet to be fully exploited. Base on our findings we have recommended measures that could shorten the manufacturing and operating cycles so as to reduce the quantum of funds required for working capital purpose. We also recommend actions that could be taken by the controlling agencies of government and the Nigeria Stock Exchange which would enhance the flow of shortterm funds to the: manufacturing sector. Such recommendations include, the establishment of Industrial Credit Guarantee Scheme and greater equity participation Commercial Bank in manufacturing ventures.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/3544
dc.language.isoenen_US
dc.subjectWORKING CAPITAL,en_US
dc.subjectFINANCING,en_US
dc.subjectSTRUCTURAL,en_US
dc.subjectADJUSTMENT,en_US
dc.subjectPROGRAMME (SAP):en_US
dc.subjectQUOTED,en_US
dc.subjectMANUFACTURING,en_US
dc.subjectNIGERIA.en_US
dc.titleWORKING CAPITAL FINANCING UNDER THE STRUCTURAL ADJUSTMENT PROGRAMME (SAP): A CASE STUDY OF QUOTED MANUFACTURING FIRMS IN NIGERIAen_US
dc.typeThesisen_US
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