Asset Growth Rate and Financial Performance: A Study of Listed Manufacturing Firms in Nigeria

This study analysed the impact of asset growth rates and financial performance in Nigeria. The research used a panel design methodology and relied on secondary data obtained from the annual reports of seventy-one (71) publicly listed manufacturing firms over a ten-year period, from 2012 to 2022. The data was analysed through descriptive statistics, correlation and the OLS regression techniques. The outcome indicates that the growth of noncurrent assets is positively and significantly associated with the financial performance of the sampled manufacturing companies in Nigeria. The second finding indicated that the growth rate of intangible assets exhibits a negative and non-significant relationship, while the third finding indicated a positive and significant relationship between the net asset growth rate and the financial performance of listed manufacturing firms in Nigeria. Based on these outcomes, the study recommends that firms should carefully consider their investments in non-current assets, as these investments significantly influence financial performance. Additionally, firms should focus on managing net asset growth to enhance their financial outcomes.