Children in Nigeria experience abuse of their fundamental rights on a daily basis. The living condition of many children is deplorable. Despite the adoption of the CRA 2003 children in Nigeria suffer a lot of abuse of their rights. There is no significant improvement in the welfare and quality of lives of children in Nigeria. This work considers how realizable these rights are and if there is a conducive socio-economic environment to actualize these rights. This work examines the impact of the CRA 2003 on the rights and welfare of children in Nigeria and posits that lack of awareness of the rights of children, lack of political will by the government to implement the CRA, non-adoption of the CRA 2003 by some states, socio-economic problems like poverty, lack of basic amenities, bad governance, among others, are responsible for the poor implementation of the CRA 2003. Good governance, effective implementation of the CRA 2003, punishment of offenders, improvement of socio-economic conditions, eradication of poverty, and uniform adoption of the CRA by all states in Nigeria are some recommendations underscored by this research. This study employs the doctrinal research methodology.