The idea of economic diversification is now a national issue, and no thoughtful inclined economic dogma formulators and managers of contemporary times can afford to weaken the teaching of the visual arts which is an in-house economic edifice (micro –economy).The arts and agricultural produces have sustained the Nigeria economy in the past, before oil and gas was discovered. Nigeria economy still depends largely on oil and gas sector, but the current administration in its effort to rebrand the economy is trying to shift base to other sectors of the economy. In conformity, the outcome of various researches published on economic submits call for attention of the public and private sectors of the economy, certified groups, persons, scholars, economists, media practitioners, the essential for adaptation of the creation of the other sectors to revive the entire structure in conformity with the desired economic growth. This paper intends to discuss with detail definition and clarification of few vital concepts, analyze the importance of visual arts and its role in economic diversifaction. Finally, Nigeria has economic and human asset endowed with creative manpower; what the nation need is sustainable, reliable, enlighten programs and solidification of the visual art education together with established art practice.