Over the years, numerous manufacturing companies in Nigeria have closed their doors due to the unstable environment in which they operate. It is worth noting that in response to the ever-changing business landscape, many companies have opted to downsize their operations or relocate to a more cost-effective country outside of Nigeria. This new information makes us wonder whether Nigeria's Consumer Goods Manufacturers (CGMs) can solve the problems impacting their sustainability through better corporate governance and other firm-specific variables. So, the study looked at how Corporate Governance (CG) and Firm-Specific Factors (FSF) affected the long-term viability of CGMs in Nigeria, and how Environmental Dynamism (EVD) mediated the relationship between CG, FSF, and CGM sustainability in Nigeria. The theories of stakeholders and dynamic capabilities serve as the foundation of the study. Data was collected from 432 CGM employees in Nigeria using a cross-sectional survey design. The three-way direct, mediation, and moderation hypotheses were tested using the data that was collected using the Partial least-square-structural equation model. The results demonstrate that the chosen CGMs' sustainability is significantly impacted by CG and FSF. EVD served as a moderator for the interaction between CG and sustainability and it was also determined that EVD mediated the interaction between FSF and sustainability. Findings from the study suggest that CGMs should focus on their CG strategy to boost stakeholder loyalty, keep their FSF setup flexible, and monitor the impact of environmental changes on meeting targets often. Then, management should take steps to ensure that their policies and actions are still in line with these goals.