Improving liquidity requires a comprehensive understanding of the company's financial health. Conduct a detailed Financial Analysis to evaluate current assets, liabilities, and cash flows.

Focus on the Cash Conversion Cycle to identify how quickly the company turns its inventory and receivables into cash. Consider renegotiating payment terms with suppliers to extend payables without compromising relationships. Aggressively manage receivables by implementing stricter credit terms and consider offering discounts for early payments to accelerate cash inflow. Additionally, explore opportunities for inventory reduction without affecting service levels to free up cash.

To address liquidity challenges, significant changes may be necessary, including cost Restructuring target=_blank>Restructuring and potential downsizing. Implement Change Management processes to ensure smooth transitions and maintain workforce morale.

Clearly communicate the need for changes, the expected outcomes, and the steps being taken. Involve employees at all levels in the change process to gain their insights, which could lead to more effective solutions. Provide the necessary support and training so that the team can quickly adapt to new systems and processes, which can help the company become more Agile and reduce costs.

Develop a Business Case for securing additional financing or investment. Present a comprehensive plan that outlines the future growth potential, the value of existing skilled technical workforce and quality products, and how additional funding will be used to overcome current liquidity challenges.

Consider various funding options, such as Venture Capital, Private Equity, strategic partnerships, or debt financing. Highlight how these funds will improve marketing efforts and product development, leading to increased Competitive Advantage and market share in the oil and gas sector.

Engage in Strategic Planning to address slow growth and competitive market pressures. Consider diversifying into new market segments or developing new products that cater to the evolving needs of the oil and gas industry.

Evaluate potential strategic alliances or partnerships that could provide access to new customers or markets. Prioritize initiatives that leverage the company's technical strengths and focus on innovative solutions that add significant value for your clients. This could include investing in R&D for sustainable technologies that are becoming increasingly important in the energy sector.

Develop a robust Sales and marketing strategy to improve market presence and drive revenue. Consider adopting Account-based Marketing to target key clients in the oil and gas industry more effectively.

Align the sales objectives with the current market dynamics and customer needs. Strengthen the company's Value Proposition by demonstrating the technical superiority of your products and the ROI they can deliver to your clients. Invest in training the Sales Force to better understand the clients' business challenges and to effectively communicate the benefits of your products.

Build a detailed financial model to forecast cash flows, income statements, and balance sheets under various scenarios. Use this model to anticipate future liquidity situations and to plan for them proactively.

Through Scenario Planning, identify potential risks and opportunities, and develop strategies to manage them. This financial model should be a living document, regularly updated with actual financial data to provide the most accurate forecasts and help management make informed decisions.

Conduct a Cost Reduction Assessment to identify non-essential expenses that can be trimmed to improve liquidity. Examine all areas of operations, including procurement, Production, administrative, and overhead costs.

Benchmark your cost structures against industry standards and competitors to identify areas of improvement. Implement Continuous Improvement practices to streamline processes, increase efficiency, and reduce waste. Engaging employees in a bottom-up approach can uncover cost-saving opportunities that may not be visible at the management level.

Consider a broader Business Transformation if liquidity issues stem from fundamental problems with the business model or operational inefficiencies. This could involve pivoting the business toward more profitable customer segments or service offerings.

Utilize technology and automation to reduce costs and increase productivity. Transform the organization’s culture to become more Innovation-focused, which can lead to the development of new revenue-generating products or services, ultimately improving liquidity.

Because the company has limited liquidity, it is vital to adopt a disciplined approach to Capital Budgeting. Evaluate all capital projects and investments critically, focusing on those with the highest potential returns and strategic importance.

Use Net Present Value (NPV) and Internal Rate of Return (IRR) analyses to prioritize projects. Consider delaying or scaling back non-essential capital expenditures that do not align with the immediate strategic goals of improving liquidity and growth.

Implement a comprehensive Risk Management framework to anticipate and mitigate risks that could affect liquidity. Besides Financial Risks, consider operational, market, and credit risks.

Analyze the company's risk exposure in the context of the volatile oil and gas market in Nigeria, and develop strategies to manage these risks effectively. Establish an emergency fund or line of credit to provide a financial cushion for unforeseen events. Regularly review and update the risk management plan to ensure it remains relevant to current market conditions and business operations.