The effect of the acquisition of farmlands on the socio-economic structure and income distribution among farmers in Edu Local Government Area of Kwara State, Nigeria was studied. The results indicate that all the farmers were male at an average age of 43 years. It was also noted that the amount of compensation paid to the farmers was far less that what the farmers expected and this has contributed to rising income inequality among them. It was advocated that farmers should be involved in all the processes leading to acquisition of their lands. In addition, confident building measures and collaboration will help the farmers benefit positively when their lands are acquired for whatever purpose.