Abstract
Listed agriculture and consumer goods firms in Nigeria have absorbed successive
shocks from currency depreciation, input-cost inflation, and foreign exchange scarcity,
conditions under which the quality of budgetary control ought to separate resilient
firms from fragile ones. Whether it does, and whether artificial intelligence changes the
calculus, remains unsettled. This study examined the effect of strategic budgetary
control practices on organisational financial performance and the moderating role of
artificial intelligence adoption. From an accessible population of 135 finance-function
principals in listed agriculture and consumer goods firms on the Nigerian Exchange, a
sample of 101 was determined through the Taro Yamane formula and drawn
purposively. Primary data from a structured five-point Likert questionnaire were
analysed with partial least squares structural equation modelling in SmartPLS. The
measurement model satisfied indicator reliability, internal consistency, and convergent
validity, and discriminant validity held under both the Fornell and Larcker criterion and
the HTMT ratio. Budget planning quality (β = 0.301, p < 0.001), budget performance
evaluation (β = 0.268, p < 0.01), and budget monitoring and control (β = 0.214, p < 0.01) each raised financial performance, with planning quality the strongest antecedent.
Artificial intelligence adoption strengthened the budgetary-control-to-performance
relationship as a moderator (β = 0.158, p < 0.05) and acted directly on performance (β =
0.187, p < 0.05). The financial dividend of budgetary discipline is fullest where firms have
equipped that discipline with intelligent tools. The study recommends stronger budget
planning, disciplined monitoring, rigorous performance evaluation, and deliberate
investment in artificial intelligence capability.
Keywords: strategic budgetary control; budget planning quality; budget monitoring and
control; budget performance evaluation; artificial intelligence adoption; organisational
financial performance
Publication Date: 2026-07-31