This study was motivated by the agency problem and information asymmetry problem of managers not acting completely in the interest of the owners following the shareholder’s value maximization objective. The study therefore sought to determine the effect of foreign ownership on corporate value of listed consumer good firms in Nigeria. Tobin Q was adopted as proxy for corporate value. The study adopted a descriptive research design using panel regression analysis to explain the relationship between the research variables. The population for the study was all consumer good firms listed on the Nigerian Stock Exchange (NSE) as at December 2016. Ten years panel Secondary data from CBN statistical bulletins, NSE reports, SEC reports and individual firm’s books were used for the study. From Random Effects Model of the analysis, the study found a positive non-significant effect of Foreign Ownership on Corporate Value of the sampled firms. This study recommends that foreign ownership policies of the firms can remain indifferent since its effect is insignificant.
