Abstract: Entrepreneurship is vital in creating and fulfilling a healthy economy. Nigeria business environments which are currently witnessing rapid development and changes on the economic, human, technological and industrial sector, aspire to meet the difficult tasks of today’s operating industrial instability, with emphases been laid on the various components of functional competencies of the firms. The main objective of the study is to evaluate the impact of entrepreneurial competencies on profitability of firms in Nigeria manufacturing industry. The specific objectives are to: establish the effect of total personnel cost to total production cost (TPCPC) ratio on return on asset (ROA) of firms in the Nigeria manufacturing industry, evaluate the impact of total equity to total asset (TETA) ratio on return on asset (ROA) of Nigeria manufacturing firms.