Infertility is a major health and social problem in Nigeria, which has caused many couples to be burdened with emotional, physical, psychological and social challenges associated with reproductive inability. Assisted Reproductive Technology (ART) has played a major role in reducing the burden among infertile couples by creating avenues for them to achieve conception and have their own children outside the natural process of procreation. However, despite the role of ART in solving infertility in Nigeria, it is important to address the ethical, legal and social issues associated with the practice. The article examined the nature, prospects, methods and challenges of ART in Nigeria. Critical issues such as multiple gestation/birth, inequitable access to ART, fertility tourism, eligibility for ART, fate of surplus embryos, commercialization of embryo and gametes donation are discussed. The article adopted the analytical research approach wherein relevant statutes, rules, instruments and scholarly materials were assembled and analyzed. The author recommended for legislative intervention and professional guidelines that will set parameters for acceptable practice and define the rights and responsibilities of all parties involved in the practice of ART in the country.