Accessing timely climate change information is crucial for arable crop farmers to effectively manage financial risks and adapt to the ever-changing climate. This study looked into how accessible climate information is and the challenges that affect financial risk management and climate change adaptation among arable crop farmers in South-South Nigeria. We used a multistage sampling method to select 270 farmers, gathering data through structured questionnaires and interviews. We applied descriptive statistics, multiple linear regression, and Principal Component Analysis (PCA) to analyze the data. Diagnostic tests confirmed the reliability of our model (VIF > 1; Tolerance ≈ 1; Durbin–Watson = 2). The findings revealed that 95% of farmers had access to climate information, and 97% were aware of climate change. The main sources of information included village meetings (84.6%), radio (74.2%), and television (50%). Factors such as educational level, membership in farmer associations, farming experience, awareness of climate change, and the use of radio and television significantly impacted information accessibility. PCA identified five key constraints that hinder effective financial risk management and climate adaptation: socio-cultural norms and migration, high input costs and land access issues, inadequate extension services and poor information flow, barriers to credit and collateral, and policy and gender-related challenges. These obstacles undermine farmers’ resilience, restrict the adoption of climate-smart practices, and jeopardize sustainable arable crop production. The study suggests enhancing extension services, creating community-based climate information centers, developing mobile and SMS-based forecasting systems, improving rural infrastructure, increasing access to credit, and addressing socio-cultural and demographic challenges. These steps are vital for empowering farmers to manage climate risks and maintain agricultural productivity in South-South Nigeria.