Abstract: This study examined the perceived effect of the privatization of extension services and farmers willingness to pay for extension services. Specifically the services farmers are willing to pay for were identified and how much farmers are willing to pay for such services This is based on the fact that public service extension is under pressure and the debate to privatize extension services in Nigeria is being muted due to provision of quality extension services since their advent and involvement of non-governmental organizations in the provision of extension services to farmers. A large sample size technique of n 30 was used in selecting researcher (32), extension agents (40) from the ADPs and 60 farmers from different groups as respondents for the study. The results show that majority of the researchers are male, above 30 years of age, married, having first university degree and have been working for more than 10 years. Majority of the extension agents are also male, above 30 years of age, married, with Higher National Diploma and have been working for more than 20 years. While for farmers, majority are male, between 41-50 years of age, married, without formal education and have been farming for more than 20 years. Prominent services indicated by the researchers are Establishment of SPAT (31%), Providing information to women farm(31%), Processing loans (30%), Securing market for shows (31%). While, extension agents responded that establishment of SPAT (26%), organizing FNT (28) and food and drinks for EA at every visit (28%) should be paid for. Similarly, farmers indicated that the services that should be paid for are Providing information to women farmers (34%), identifying rural problems (38%), Training VEA (33%) and supervising women activities (43%).The mean values of amount to be paid for each of the services shows a minimum of 1800 and a maximum of 11400. A significant difference (F = 9.45; p<0.05) exists in their perception about the privatization of extension services with the extension agents having the highest mean score.