To avoid the moribund path of most of the earlier implemented agricultural-based development projects and programmes, this article reviewed the implementation modalities of the Anchor Borrowers' programme while making useful suggestions for effective and sustainable results-based implementation. The article relied on content analyses and the strengths, weaknesses, opportunities and threats strategic planning tool to reach its conclusion. While noting the strength of the programme, there is doubt as to the conduct of project appraisal; implementation arrangements are unclear, while overlaps exist in the roles of stakeholders. Thus, the study affirms that political pressure should never be made to becloud sound project preparation, while sustaining awareness for increased programme participation to avoid exclusion and confusion. It is also imperative to put in place a credible results-based framework and modalities for the conduct of baseline and subsequent performance assessment structure for the purposes of learning and accountability to Nigerians.