Disrupt daily operations, inability to fulfill long term obligations, lower sales, and shrinking earnings experienced by consumer goods companies have become worrisome to shareholders, business executives, academia and corporate managers. In lieu of this, this study investigated the effect of working capital management on profitability of listed consumer goods firms in Nigeria. Longitudinal research design was adopted for the study and data were obtained from secondary sources through the annual reports of sampled firms and the factbooks of the Nigerian Exchange Group. Twenty (20) consumer goods firms listed on the Nigerian Exchange Group as at 31st December 2022 formed the population of the study. A sample of ten (10) was selected as sample size using purposive sampling techniques. Data were analyzed using descriptive statistics and panel regression technique. The findings of the study showed that working capital management structure such as inventory to assets ratio, receivables to assets ratio of the listed consumer goods firms in Nigeria have a negative and significant effect on profitability while cash to assets have negative but insignificant effect on profitability. The study concluded that when explaining the effect of working capital management structure on the financial performance of listed consumer goods firms in Nigeria, inventory to assets ratio, receivables to assets ratio are the most significant to net profit margin of the listed consumer goods firm.