Chlorophyll distribution, phytoplankton biomass and pigment diversity were investigated at fortnightly intervals, in eight fish ponds located in Ile-Ife, Nigeria. Except for stations 6 and 7, the diatoms were the most prominent phytoplankton group while the chlo-rophyceae were less prominent. Peak periods of chlorophyll-a coincided with peak periods of nutrient availability and generally, the stations recorded high algal biomass. Margalef Index (M.I.) ratios were negatively correlated with both gross and net production while the latter were positively correlated with chlorophyll-a but negatively correlated with chlorophylls b and c. In terms of phytoplankton diversity, station 7 recorded the least number of species while the maximum number was recorded in station 4.