Transactional sex is a sexual activity that occurs in exchange for material benefits rather than being formally defined as prostitution. Transactional sex is not inherently violent or forced in every case, but it exists on a spectrum between fully consensual relationships and exploitation, depending on circumstances and power balance. Transactional sex occurs in settings of poverty or economic inequality, among students, where sex may be exchanged for fees, grades, or living support, in humanitarian or conflict settings and in relationships involving “sugar daddies/mommies. Female students involved in transactional sex often face heightened sexual and reproductive health risks. This study is aim to evaluate the Impact of Transactional Sex Among Female Students in Tertiary Institutions in Nigeria. This was a cross-sectional study involving 250 women (Teenagers) with age between 18 to 47 years. A well-structured questionnaire was administered to participants. The study lasted for a period of 2 months. Statistical analysis was done using SPSS version 25.0 and p < 0.05 was significant. The results revealed that 60% of the participants were from university, 28% from polytechnics and12% from colleges of education, 80% were single, 80% are aware of transactional sex. Transactional sex was described by the participants as sexual favors in exchange for money 40%, sexual favors in exchange for gift 28%, sexual favors in exchange for grades 28%, and I did not know 4%, 60% agreed transactional sex is common, 80% have engaged in transactional sex (TS), several factors motivated them to engage in transactional sex, 40% of the partner initiate the TS, 76% were academically affected, 60% affects mental health, and 68% agreed that TS has a long term effects on students.