The study investigated the determinants of trade credit in manufacturing firms in Nigeria. Specifically, the study examined the effect of Firm Sales, Debt Financing and Cash Flow on Account Payable of manufacturing firms in Nigeria. The sample comprised of 17 manufacturing firms listed on the Nigeria Exchange Group during 2012-2023 periods. The time series data obtained from the annual reports and financial statements of the selected firms were analyzed using Panel Least Square Regression Analysis. Research results suggest that Firm Sales positively and significantly determine account payable of manufacturing firms in Nigeria {FSLS: Coeff. 0.161352, (P-value 0.0000 <0.05)}. Results also show that Debt Financing positively and significantly determine Account Payable of the firms {DETF: Coeff. 0.131480, (P-value 0.0187<0.05)}. It was further found that Cash Flow positively and significantly determines Account Payable of the firms {CSFL: Coeff. 1.075769, (P-value 0.0000<0.05)}. The implication of these findings is that Account Payable will increase as Firm Sales, Debt Financing and Cash Flow are increased. Based on these findings, the study recommends that the manufacturing firm managers should formulate trade credit policies that will enable them increase the use of trade credit to increase firm sales, firm profitability and firm value. The study also recommends that debt financing should be used to fund long term investment while trade credit should be used to finance short term credit needs of the manufacturing firms. Thus, both debt financing and trade credit are complementary as indicated from the findings of the study. Lastly, the firms should increase its cash flow in order to properly manage their account payable. An increase in cash flow will enable the firms settle their trade payable as and when due, this will increase the credit rating of the firms and further boast its ability to obtain funding from other sources. 

Key Words: Trade Credit, Account Payable, Firm Sales, Debt Financing, Cash Flow, Manufacturing Firms.