This study examines the impact of financial reporting quality on the investment efficiency of listed manufacturing companies in Nigeria. The study population consist of all the listed manufacturing companies in Nigeria. The purposive sampling technique was employed to arrive at forty eight companies for 2008-2018 using secondary data from annual reports and accounts. The study’s findings confirm that financial reporting quality has a positive and significant impact on investment efficiency. On the contrary, financial reporting quality has a negative and significant effect on over-investment. The control variable study reveals that cash, past stock returns, tangibility, and age strongly impact investment efficiency. In contrast, leverage and size have a strong negative impact on investment efficiency. Hence, the study suggests that policymakers and market regulators should encourage more qualitative financial information disclosure.