Abstract: The Black Tiger shrimp, Penaeus monodon is a new entrant in the Gulf of Guinea along the West African coast. The species though not native to the region has been well established. In Nigerian coastal waters for example, fishing trawlers and local fishermen catch berried females all year round and thus can serve as sources of broodstock supply for aquaculture purposes. Preliminary studies by Nigerian Institute for Oceanography and Marine Research on shrimp broodstock availability, collection, breeding, post larvae production and grow-out indicated that there are great potentials for commercial culture of the species in the country. However major challenges included scarcity of post larvae for stocking, power outages, lack of technical know-how and negative environmental impacts. The prospects and challenges of shrimp farming in Nigeria are highlighted.