RETHINKING FINANCIAL MANAGEMENT IMPERATIVES IN NIGERIAN UNIVERSITY THEATRES

Abstract

The issue of financial management in Nigerian University theatres has become a crucial one
in Nigeria today, and can not be glossed over. This is because the management of the Department of
Theatre Arts/Performing Arts are crying of inadequate funding, and want the University authorities to
increase its budgetary allocation to ensure sustainability. In wake of poor funding, University theatres
ought to and should be thinking of becoming economically viable and source for generating
additional revenues for the university and other investments opportunities. Undoubtedly, human
resources alone are not adequate to effectively manage the University theatres. Perhaps, there is need
for adequate finances to enable it stay afloat. Thus, financial management which is the bedrock of
success in any organization becomes imperative in the management of University theatres in Nigeria.
This paper is aimed at establishing the need to recognize and employ a good financial management
system in running University theatres in Nigeria. In the process, the paper examines the potency of a
good financial management system in managing University theatres in Nigeria, using the observatory,
participatory and descriptive research methodologies. The paper offers some recommendations and
concludes that the application of a good financial management system would ensure the proper
management of the finances of the University theatres in Nigeria, and guarantee it sustainability.