The growth of indigenous management consulting firms in Nigeria started in the early 1970s following the rapid growth of the modern industrial and commercial sectors of the economy fuelled by the huge windfalls from crude oil exports. The chapter reviews the emergence of Nigerian-owned management consulting firms and the crucial roles they can play in providing support services to the top management of organizations in both the public and private sectors of the economy. The critical steps which ought to be taken in promoting and operating a viable management consulting firm are discussed and recommendations made as appropriate, especially in the areas of corporate structure, understanding of the market to be served, right package of services, appropriate promotional tools and publicity as well as the need to consolidate into bigger units in order to be able to compete with the large-scale international consulting firms. The challenges facing indigenous consulting firms are highlighted as well as the opportunities for future growth and development.