The scrutiny of RPT has gained traction over the past few decades because of increased tax aggressiveness behaviors, conflicts of interest, business failures, insider abuse, asset expropriation and tunneling. There is a slew of empirical works trying to ascertain whether RPT is used for propping or for conflicts of interest. However, the result is mixed. The increasing management bad behaviors and weak corporate governance and its failures in mitigating abuse of RPT has heightened interest of scholars, regulators and other stakeholders on subject. The objective is to determine effect of RPT, and Governance on Balanced scorecard. The study used data from financial statements of manufacturing firms listed on the Nigeria stock exchange for the period 2003 to 2023. Hausman test, Multiple Regression and various diagnostic tests were conducted on data set. Related party transactions have significant positive effects on Returns on Asset, Net profit margin, price earnings ratio and customer loyalty of Manufacturing companies in Nigeria. Increase in RPT increases the performance of ROA, Net profit margin, price earnings ratio and customer loyalty while RPT has negative relationship with internal efficiency thus increase RPT decreases internal efficiency of the firms. Board independence increases customer loyalty and price earnings ratio simultaneously reducing internal efficiency, Net profit margin and return on assets. Chief executive duality has significant negative impacts on ROA, Net profit Margin and price earnings ratio implying CEO duality reduces the performance variables. Contrastingly, CEO duality improves internal efficiency and customer loyalty with significant positive effects. Audit quality has positive correlation with Net profit margin, Return on Assets and internal efficiency implying improved quality of audit improves the variables while correspondingly reducing price earnings ratio and customer loyalty. Outcome of study indicate need to improve efficiency of usage of assets, improve and sustain the internal efficiencies and customer loyalty as this will ultimately increase profits. Based on negative association of CEO duality with reduced profit margin and price earnings ratio, board chairman position should be separate from function of CEO to ensure independence and checks and balances while new strategies should be formulated to sustain customer loyalty and internal efficiency. There is also need for regulators and auditors’ scrutiny of RPT to mitigate the effects of earnings management if any as increased RPT associated with improved ROA, Net profit margin and price earnings ratio can also indicate RPT is used for earnings management.