Abstract: The TRIPS Agreement is focused on the reduction of distortions and impediments to international trade, promotion of effective and adequate protection of intellectual property rights and ensuring that measures and procedures to enforce intellectual property rights do not themselves become barriers to legitimate trade. A major objective aimed to be achieved by the protection and enforcement of intellectual property rights is for such to contribute to the promotion of technological innovation and advancement in all spheres of life to the mutual advantage of producers and users of technological knowledge. Nigeria has adopted the TRIPS articles as a base for the laws on protection and enforcement of intellectual property rights. This paper therefore reviews how Nigeria has benefitted from its application of the TRIPS regime in her intellectual property law system, the challenges and setbacks as well as areas requiring boost to bring Nigeria IP regime in tandem with international standards.