Abstract: This study explores the role of corporate governance in shaping the financial performance of Nigeria food and beverage manufacturing sector during periods of economic downturn. With the increasing vulnerability of Nigerian firms to macroeconomic volatility characterized by inflation, currency instability, and reduced consumer spending, the need for effective governance structures has become more critical than ever. This research focuses on five major companies in the sector over a six-year period (2018–2024), analyzing how governance mechanisms such as board size, board independence, and ownership structure relate to financial indicators like Return on Assets (ROA) and Return on Equity (ROE). Due to a limited number of observations (30), this study adopts a descriptive statistical approach to uncover patterns and trends, rather than infer causal relationships through regression. The analysis reveals that companies with larger boards and a higher proportion of independent directors tended to report more stable and higher average financial performance over time. Similarly, firms with concentrated ownership structures demonstrated relatively higher profitability, suggesting a possible connection between active shareholder control and performance during economic stress.