The study examined the relationship between poverty and income among the smallholder farmers in Nigeria using 393 smallholder farmers in Benue State. The result of the study showed that the bottom 10 percent of the population (the poorest households) receives only 1.72 percent of the total income, while the top 10 percent of the population (the richest households) receives about 50 percent of the total income. Furthermore, per capita income is most strongly related to poverty reduction among the respondents, suggesting that improvement in per capita income among the respondents may be more critical for reducing poverty among the respondents in Nigeria. Per capita income is more strongly correlated with farm income than non-farm income among the respondents, implying that improvement in farm income – and equitable distribution of income – among the respondents may be more critical for improving the welfare of the entire household members of the respondents and hence poverty reduction in Nigeria.