Role Of Cost Control In The Public Sector Of Nigeria (A Case Study Of Ministry Of Works, Abia State)

ABSTRACT

Costing is aimed at producing information on economics performance to assist managers to manage abnormal cost, which might occur accidentally. The effective utilization of resources is amongst the most important management activity in the established administration of the public sector, not only in Abia States, but also in the present global economics. This effective utilization of resources borders on the areas of revenue; the implementation costs for public sector; materials movement and management. The general objective of the study is an analytical investigation into the role of cost reduction techniques in the public sector in Nigeria. However, there arc specific objectives which the study investigated. These specific objectives ascertained the problems militating against the cost reduction techniques of the public sector; examine the cost reduction and cost control techniques adopted in the public sector in Nigeria; analyzed the effect of cost reduction on the revenue base o the public sector of the enterprise. The study adopted a probability sampling method were Taro Yamen's formular was used to compute a sample size of 255. A well structured questionnaire was used to collect the data data for the study, which were later analyzed using correlation model. The study concluded that the adoption of cost control in the public sector enhances effective performance in the public sector in Nigeria. And therefore recommended the adoption of cost control techniques in the Nigerian public sector.