The political history of Nigeria is characterised with an unprecedented level of insecurity. Inter-communal and inter-ethnic clashes, religious violent, and armed robbery, assassination, murder, gender based violence, and bomb explosions have been on the increase leading to enormous loss of lives and properties and general atmosphere of siege and social tension for the people. In recent times, inter-ethnic relations tension has resonated in Nigeria. This is due to the activities of some ethnically motivated groups. “The Political Economy of Fulani Herdsmen Activities and Inter-ethnic Relations in Nigeria‟s Forth Republic: Issues and Prospects”, focused primarily on the activities of the nomadic Fulani herdsmen in some parts of Nigeria such as Kaduna, Enugu, Benue, Ekiti, Taraba, Nasarawa, Plateau, Kogi States, etc. In these conflicts, many lives and cattle are lost and properties destroyed. This paper examines the causes of the incessant Fulani herdsmen and farmers conflicts in Nigeria. Secondly, to underscore the nexus between the incessant conflicts and interethnic relations in Nigeria, and thirdly, to overview the alternative options to ameliorate the incessant conflicts between the Fulani herdsmen and the hosting farming communities vis-à-vis to douse the ethno-religious dimension of the conflict.