The Study examined the effect of Cash Management on Fixed Assets Turnover Ratio of Listed Oil and Gas Companies in Nigeria. The specific objectives were to evaluate the effect of quick ratio (QR) on fixed assets turnover ratio (FATR) of listed oil and gas companies in Nigeria and investigate the effect of cash ratio (CR) on fixed assets turnover ratio (FATR) of listed oil and gas companies in Nigeria. The independent variable cash management proxied by quick ratio (QR) and cash ratio (CR) while dependent variable as fixed assets turnover ratio (FATR). The ex-post facto research design which made use of secondary data drawn from the annual report and accounts of four (4) firms in listed oil and gas companies in Nigerian economy covering a period of ten (10) years from 2008 to 2017 both years inclusive. The theories in which this study pinned on were pecking order theory and anticipated income theory. The E-views version 9.0 software statistical package was used to run the Panel ordinary least square (OLS) for the study. The multiple regression model was applied in determining the extent of the effect of independent variable (cash management) on dependent variable (fixed assets turnover ratio) of companies’ under consideration. The result of the regression analysis revealed that quick ratio (QR) and cash ratio (CR) have negative and insignificant effect on fixed assets turnover ratio (FATR) of listed oil and gas companies in Nigeria. Based on the findings, the researcher recommended that management should be concerned with the overall worth of the company. They should endeavour to ensure quick sales of their stock on time so as to improve their liquidity position