This paper examines the important risk factors and risk management measures as well as optimal farm plans in floodplains farming in Akwa Ibom State, Nigeria. Findings show that the most important risk factors in floodplains farming are flood and drought. Farmers manage these risks through relay/sequential cropping, planting short gestation and flood tolerant crops. Target-MOTAD model shows that farmers are not operating at
optimal level of production, a crop combination consisting of cassava, cocoyam, maize and fluted pumpkin was found to be the least risky and the most profitable while all vegetables crop combination was the most risky.