Investors, creditors, and other stakeholders are significantly impacted by earnings management, a technique that can skew financial results. In light of this, the study looks at how listed industrial goods companies in Nigeria manage their earnings in relation to their equity ownership structure. The study's specific goal is to find out how managerial equity ownership, foreign equity ownership, institutional equity ownership, and concentrated equity ownership affect the way listed industrial goods companies in Nigeria manage their revenues. Thirteen (13) industrial products companies registered on the Nigerian Exchange Group as of December 31, 2023, make up the population of the study's corollational research design. The census sampling technique was utilized, and all 13 companies served as the sample size. The information utilized was taken from the annual reports of the Nigerian Exchange Group-listed industrial goods companies. Eleven (11) years, from 2013 to 2023, were covered by the data. Using STATA 13.0 software, the study's analysis method was the random effect regression model. According to the study, institutional equity ownership significantly improves the earnings management of Nigerian industrial goods companies, while foreign equity ownership and concentrated equity ownership have a significant negative impact. Managerial equity ownership has a negligible negative impact on earnings management. In order to improve the performance of Nigerian-listed industrial products companies, the study advises the board of directors to make sure that insider manager' shareholdings are neither excessively large nor excessively little. By making policy statements mandating that managers and executive directors hold more equity shares, companies should think about increasing managerial ownership. Additionally, businesses must have a large institutional ownership percentage, particularly in participatory institutions.