Significant increases in human and livestock populations coupled with agricultural practices have changed the socioeconomic perspectives of livestock diseases. Evaluating the socioeconomic impact of bovine trypanosomosis and its vectors (Glossina, Tabanus and Stomoxys) from the perspective of the livestock owners is of great significance. Participatory rural appraisal was conducted among 209 livestock owners (focus groups) to determine the behavioural practices of animal husbandary to bovine trypanosomosis. In Nigeria, common Trypanosoma species found in cattle are Trypanosoma vivax, Trypanosoma congolense and Trypanosoma brucei. Trypanosomosis peaks were reported by owners to be in the months of March – August. A total of 70.8% (95%CI: 64.32 – 76.56%) cattle owners perceived trypanosomosis as a major disease in their herd, 13.4% (95%95%CI: 9.43 – 18.68%) practiced transhumance in the wet season, 93.9% (95%CI: 88.58 – 96.92%) make use of trypanocides and approximately US$ 8.4 million is spent annually on trypanocides in southwest Nigeria livestock industry. About 60.5% (95%CI: 51.84 – 68.48) make use of insecticides against transmitting vectors and only 1.9% (95%CI: 0.75 – 4.82%) have ever heard of any form of government intervention scheme. Estimated losses ≥ US$ 426 (80 – 100% loss) can be incurred on a single animal depending on the size and market value. There is significant increase (16.2%, 95%CI: 11.15 – 23.00%, P < 0.05) in the mortality rate of bovine trypanosomosis when compared to other livestock diseases. It will therefore be useful to involve the livestock owners with devising new and integrated measures for reducing the impact of this trypanosomosis.