The study examined the effect of firm-level attributes on the performance of Nigerian consumer goods firms. The study’s specific objective was to determine the effect of audit quality attribute and leverage attribute on the return on investment of listed Nigeria consumer goods firm. Ex-post facto research design was adopted. The population comprised all the 20 listed consumer goods firms in Nigeria. Purposive sampling was used in selecting a sample size of 15 from them. Secondary data were sourced from firms’ annual reports over a thirteen-year period, 2012-2024. Descriptive analysis was conducted alongside correlational analysis, cross-sectional dependence test and panel heteroskedasticity test. The hypotheses were testing using panel estimated generalized least square at 5% significance level. It was found that: audit quality has a positive and significant effect on firm performance (β = 0.081920, p = 0.0000); leverage has a negative and significant effect on firm performance (β = –0.001604, p = 0.0000). In conclusion, the presence of high-quality auditors plays a meaningful role in strengthening financial outcomes, suggesting that stronger external monitoring enhances the credibility of reported figures and encourages managerial discipline, both of which support healthier operational decisions. The study recommended that the financial managers of consumer goods firms: reduce excessive dependence on debt financing by adopting more balanced capital structure strategies that limit interest burdens and preserve the firm’s ability to generate sustainable returns.
KEYWORDS: Firm-level attribute, Audit quality, Leverage, Return on investment.
