The fact that the contribution of agriculture is germane to economic growth of Nigerian nation and that foreign capital is a gap filler for inadequate domestic finance in the sector cannot be overemphasized. This paper examines the impact of foreign capital inflow into agricultural development and subsequently the agricultural sector growth in Nigeria. The study adopted annual secondary time-series data from 1970 to 2014 sourced mainly from Statistical Bulletin of Central Bank of Nigeria (CBN), International Monetary Fund (IMF), and International Development Fund (IMF) and adopted the Engle Granger technique of Cointegration and Error Correction Model (ECM). It was based on the data collected in order to determine the effect of foreign capital inflow on agricultural productivity. The agricultural production was found to have significant impact on economic growth of Nigeria. It was found to have increased the gross domestic product. Also, it was revealed that in the second lag, human capital development had a significant impact on agricultural sector in Nigeria. The policy implications of the findings were that Nigerian government should provide adequate and enabling environment for foreign investors in the agricultural sector. This will guarantee availability of foreign capital for increased agricultural production and hence the provision of raw materials for the industrial sector. Finally, the government should strengthen the technical knowledge of the farmers and reduce the rate of interest on agricultural loans.