Effect of Risk Management on Growth of Manufacturing Firms in Nigeria

Student: Israel Dayo Oyawole (Project, 2025)
Department of Accounting
Ekiti State University, Ado-Ekiti, Ekiti State

Abstract

The study investigates the effect of risk management on the growth of manufacturing firms in Nigeria. The manufacturing sector is a significant contributor to Nigeria's economy, but it faces numerous risks, including operational, financial, and strategic risks. This study aims to examine how effective risk management practices impact the growth of manufacturing firms in Nigeria.
A quantitative research approach was employed, using a survey design to collect data from 50 manufacturing firms in Nigeria. The data were analyzed using descriptive statistics, correlation analysis, and regression analysis. The results show that risk management has a significant positive effect on the growth of manufacturing firms in Nigeria. Specifically, the study found that effective risk management practices, such as risk identification, risk assessment, and risk mitigation, are associated with increased firm growth, profitability, and competitiveness. The study concludes that risk management is a critical factor in the growth and survival of manufacturing firms in Nigeria. Therefore, manufacturing firms in Nigeria should prioritize risk management practices to mitigate risks, ensure sustainability, and drive growth

Keywords
effect management growth manufacturing firms nigeria
Filters
Institutions