This study examined the impact of financial sector reforms on agricultural output in Nigeria. The specific Objectives were to; compare the output of the different agricultural subsectors in the different reform era, compare the contribution of loans to output of the different agricultural subsectors and toanalyze the impact of reforms on farmer’s output. Data for the study were obtained from Central Bank of Nigeria Statistical bulletin, annual report, federal budget allocation report, annual reports. Data obtained were analyzed using both descriptive and inferential statistics. The results showed that agricultural output of the crop sector was consistently higher than that of other agricultural subsectors in virtually all the reform periods; the contribution of loan to output in the livestock and fisheries subsectors were consistently below 12% and 3% respectively all through the financial reform periods; the volume of loan disbursed by bank to agricultural sector and the reforms had a significant impact on farmers’ output.