Abstract: This study examined the effect of voluntarily disclosed general corporate and forward looking information index on share prices of manufacturing firms in Nigeria. Ex-post facto research design involving secondary data for the period of 2012 to 2018, gathered from published annual reports of selected manufacturing firms using content analysis approach to generate voluntary information index. The sample of 22 manufacturing firms listed under the consumer goods subsector of the Nigerian Stock Exchange as at 31st December, 2018 were used for the study. Data were analyzed using descriptive statistics, Pearson correlation, t-test, ANOVA, and Multivariate regression. Findings revealed that the sampled manufacturing firms have some extent of voluntary information disclosure and that share prices of these companies are affected by voluntarily disclosed information. The statistic were General Corporate Information (GCI) (β= -295, Std. Error= 117.522, t-value-2.511, p-value= 0.013) Forward looking information (FLI) (β = -270, std. error=136.939, t-value = -1.982, p-value = 0.049) had negative significant effects on share prices of the listed manufacturing firms studied. On the whole, the study findings revealed that voluntarily disclosed information indexes affect share prices of listed manufacturing firms. It was therefore concluded that firms should disclose more of voluntary information as well as realistic and relevant forward-looking information in other to improve the value of the firms.