Morphometric parameters of Parailia pellucida from the fresh Water reaches of lower Nun River in the Niger Delta area of Nigeria, was studied for a period of one year (Jan.-Dec. 2007), using five hundred specimens. The regression equation for the length weight relationship was Log W = 0.00001+3.23logL and correlation coefficient was 0.951 at p<0.05. The regression equation for length breadth relationship was Log M = 1.50LogT(subscript L) and correlation coefficient was 0.994 at p<0.05. The largest specimen measured 13.1 cm and weighed 99.6 g at age 3+. Growth increment in length (6.7 cm) was highest in 1-2 years; while grow th in weight was highest (74.1g yr^(-1)) in 2-3 years. The Maximum length at age attained L(subscript max) was 12.5 cm weighing 99.9 g. The length attained at infinity (L∞) was 13.2 cm. Growth exponent (b) was 3.23. Length performance index (θ^1) value was 2.73. Weight performance index value (Ø) was 1.87. Growth coefficient (K) value was 0.46. The hypothetical age at which length is zero (T(subscript o)) was -0.44; and the maximum age estimated was 3 years. There was no temporal variation in the condition of the fish through out the year with condition index value ranging from 0.91-1.00 and condition factor value of 0.96. Total mortality (Z) value was 1.4yr^(-1). Natural Mortality (M) value was 0.55; fishing mortality (F) value was 0.87. Value for the rate of exploitation was 0.67 with corresponding percentage value of 67%. Parailia pellucida populations from the fresh water reaches of the lower nun river was higher than the optimal value for sustainable yield, for the exploitation of the fishery; therefore stands the risk of over exploitation if urgent measures are not taken to effectively manage the fishery.