The study examines the impact of working capital management on financial performance of manufacturing companies in Nigeria. The study employed multiple regressions in analyzing the data sourced from the published financial statement of the firms under the study. A significant outcome of the study is that Average Payment Period and Average Collection Period impacts on both Earnings per share and Return on capital employed. The implication is that efficient management of working capital will improve the financial performance of the manufacturing firms, hence the study recommends that professionals should be hired by these firm to ensure proper management of stock to avoid stock out. Conclusively, the study has shown that good management of working capital will keep manufacturing firms a float.
Keywords: Average Collection Period, Average Payment Period, Earnings per share, Return on Capital Employed
