Against the backdrop of growing urbanization and changing climate exacerbating land scarcity, urban poverty, and food insecurity in Nigeria, there is a dire need to adopt intensive, nature-based solutions such as edible insects as a protein and livelihood means. The study therefore broadly explores various perceived socioeconomic and environmental benefits as well as challenges to urban households in utilization of edible insects. It specifically describes the socioeconomic attributes of edible insect harvesters and markets, assessed the viability of edible insects business alongside its determinants, identified the sources and typologies of edible insects consumed and marketed in the area, and assessed farmers’ perceptions regarding other socioeconomic and environmental benefits of adopting edible insect consumption and barriers to promoting edible insect consumption and marketing under a changing climate in Rivers State, Nigeria. It adopts a survey method using both qualitative and quantitative approaches in analyzing the data collected for the study. Primary data were collected from one hundred and thirty (130) households including marketers and consumers of edible insects using questionnaire, interview schedule, and focus group discussion approaches. The study adopts in-depth literature review, descriptive statistics, triangulation, budgetary technique, and multiple regression modeling for its analysis. Winged termites, crickets, and palm weevil are the most common edible insects marketed in Rivers State and were profitable. Hence it was recommended that government and development agencies should prioritize funding of edible insect enterprises and research to boost innovations in domestication of edible insect production and processing.