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The research delved into the intriguing relationship between the financial performance of Nigerian manufacturing enterprises and the costs associated with cloud accounting. Employing an ex post facto research approach and utilizing panel data analyses of public financial statements and accounts of manufacturing firms traded on the Nigerian Stock Exchange over a substantial nine-year period (2009-2018), the study randomly selected six manufacturing companies to participate. The investigation employed the sophisticated Random Effects regression technique to analyse the data. The research findings were striking, revealing a significant negative influence of maintenance costs on the return on equity of the chosen manufacturing enterprises in Nigeria. The research observed that even a mere 1% increase in maintenance costs would lead to a noteworthy 0.06% decrease in return on equity. These findings emphasized the critical link between cloud accounting costs and organizational performance in the manufacturing sector. The research further underscored that the costs associated with cloud accounting could pose obstacles to the performance of manufacturing companies. As a result, the study concluded that a successful cost management system is imperative for manufacturing businesses to achieve sustained profitability, highlighting the need for prudent financial strategies in the face of evolving technological advancements in the accounting domain.

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Economics, Accounting and Finance Department, Bells University of Technology, Ota.


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