Despite recent progress in poverty reduction globally, millions of people are either near or living in severe multidimensional poverty in Nigeria. This study examined multidimensional poverty transitions in rural Nigeria, employing the Alkire and Foster Measure of Multidimensional Poverty, Markov Model of Poverty Transitions and the Multinomial Logistic Regression Model for analysis. Results showed that multidimensional poverty among rural households in Nigeria is mainly chronic (46.5%) while education and assets dimensions contributed most to the incidence and severity of multidimensional poverty among the households. Educational status, household size, number of assets owned, ownership of land influenced transient poverty while marital status, household size, land ownership and number of assets owned influenced chronic poverty. The study recommends the enactment and implementation of relevant laws against marginalization of rural women in ownership of assets and intensification of efforts and incentives aimed at encouraging human capital development in the rural areas