This paper evaluated the influence of strategic financial management practices (SFMP) on the return on assets (ROA) of quoted oil and gas firms in Nigeria. A simple random sampling was adopted for the sample with data generated from annual reports and accounts of sampled oil and gas firms in Nigeria for fifteen years (2006-2020) for the study. The findings showed that SFMP had significant influence on the ROA of quoted Oil and Gas firms in Nigeria (p-value =0.0003; <0.05). The result revealed that debt finance was negatively significant but investing activities was positively significant on ROA. Furthermore, dividend payout, working capital, and total asset turnover had 
positive insignificant effect on ROA of quoted Oil and Gas firms. The Adjusted RSquare of 0.56 showed that 44% outside SFMP caused changes in ROA. It was 
recommended that the management should pay attention to debt finance which negatively impacted ROA. 

Keywords: Debt finance; Dividend payout; Performance; Return on asset; Working Capital.