Knowledge is power when used positively to the benefits of mankind and very invaluable when shared and transmitted beyond the frontiers of a Community. Knowledge gained or transmitted through generations should not be static as external initiatives are bound to constantly moderate such knowledge. Man over centuries have helped extensively on how knowledge is generated, exchanged, transformed, consolidated, shared, retrieved, disseminated and utilized most especially in agriculturally related fields of crop production and animal production. This paper takes a cursory look at the conceptual meaning of indigenous knowledge, the nature of indigenous knowledge and agriculture, sustainable development in indigenous knowledge management and specific examples of viable indigenous knowledge in agriculture. Recommendations to improve on the existing situations are given to government and private institutions.