THE EVALUATION OF WORKING CAPITAL MANAGEMENT ON FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA (2003-2020)

This research analyses the influence of working capital management on financial performance publicly traded consumer goods firms in Nigeria. Also, to determine if variables such as cash conversion cycle CAC, account receivables period ARP, payables APP, and inventory turnover ITP have a substantial impact Through exchange rate channel, Nigerian economy's underperformance spilled over non-oil sector, which fell by 0.2 percent y/y, lowest since 1985. The novelty this examined listed industry during covid-19 2015-2017 recession periods, because flow was constrained throughout these periods. study used macroeconomic inflation interest rates control achieve objectives; employs longitudinal design. Resources-based contingency theories were adopted. 2003-2020; hypotheses tested using panel data regression. null hypothesis is rejected; an increase APP leads decrease firms' performance, CAC performance. IFR ITR reduces performances. ARP had no significant effect their COVID-19 pandemic period, demonstrating necessity be prepared for unexpected unforeseen conditions. Keywords: Account Payable Period, Receivable Cash Conversion Cycle, Inventory Turnover Consumer Goods, Working Capital DOI： https://doi.org/10.35741/issn.0258-2724.58.3.22