Management of earnings by corporate organisations has been one of the serious issues in literature of accounting over the past few years, the situation which involves manipulation of company earnings in order to achieve a desired outcome which may or may not reflect the true position of the organisation. This issue has gained the interest of scholars and has been investigated extensively across different industries. This study explores how ownership structure influences earnings management in Nigeria’s paint and chemical industry. It investigates three main objectives: (i) the impact of managerial ownership on earnings management, (ii) the effect of institutional ownership on earnings management, and (iii) the relationship between ownership concentration and earnings management. Utilizing a quantitative research approach, the study collected secondary data from annual reports of listed companies in the sector from 2010 to 2021. Panel data analysis, including pool ordinary least squares, random, and fixed effect regression techniques, was employed. Results indicate that ownership structure and earnings management behaviours vary among companies in the industry, with Meyer Paints Plc exhibiting the highest level of earnings management alongside significant managerial ownership. CAP Plc was found to have the highest average institutional ownership, sales growth and return on equity while Berger Paints Plc has the largest average company size. The regression results demonstrated that managerial ownership inversely negatively affect earnings management, indicating that higher managerial ownership tends to decrease earnings manipulation within Nigeria’s paint and chemical industry. Conversely, the institutional ownership does not affect earnings management significantly. Conversely, ownership concentration positively affects earnings management. Firstly, the study recommended among others that managerial ownership should be encouraged and sustain in the paint and chemical industry since it reduces earnings management. Secondly, institutional owners should be encouraged to channel their resources – both technical and otherwise towards discouraging earnings management by supporting the management of the companies. Thirdly, ownership concentration should be discouraged in the paint and chemical industry since it increases earnings management. Lastly, board of directors are recommended to protect managers from any interference from other stakeholders that will lead to earnings management.