Al-Hikmah University Journal

This study evaluates how capital structure affects the profitability of Nigerian-listed manufacturing companies. It also aims to prove the hypothesis regarding the relationship between capital structure variables and profitability. The study employs both descriptive and inferential statistics and data were analysed using a multiple regression model. The finding shows a noticeably inverse relationship between overall debt and profitability. This research indicates that a higher debt position will result in lower profitability; the more debt, the less profitable the company will be. It was suggested that to boost the profitability of manufacturing enterprises, a suitable mix of capital structures should be adjusted. Results show that debt and profitability are negatively correlated. Because of the highinterest rates, profitability tends to decrease in cases of increased debt.