This research examined the impacts of extreme climatic events on rural livelihoods and agricultural practices in Iyanfoworogi, Nigeria. It also assessed the level of loss and damage in agricultural populations resulting from the increasing prevalence of climatic anomalies, including prolonged droughts, strong winds, and unpredictable rainfall. Trends of selected climatic elements from 1984 to 2018 were investigated through both qualitative and quantitative research methods approach, involving the use of datasets obtained from a structured field survey, qualitative interviews, and secondary data from the NASA POWER database. Correlations between crop yields and climate variability were analysed using statistical techniques, including simple linear regression and correlation analysis. Results indicated that wind speed, rainfall and air temperature changes ruined crops and farm infrastructure, and reduced farm productivities. Farmers implemented reactive coping mechanisms, including offering prayers to a supernatural being, diversifying crops, and practicing rudimentary irrigation, but these did not offer long-term reduction of the associated negative impact of climatic hazards. Socio-economic losses included 30–50% loss of farmers’ incomes to extreme weather events, and associated loss human and land investments, increased complaints of hunger, and soaring prices of food items. The study showed a dire need for climate adaptation programmes, such as climate-smart agriculture approaches, enhanced early warnings, and more policy incentives to smallholder producers. Investment in rural infrastructure, expanded access to climate-resilient crops, and institutional capacity building are vital to reducing climate-related exposures. We recommend further research into long-term socio-economic evaluations and local climate models as focal point in informing sustainable adaptation alternatives in rural areas in Nigeria.