Multiple use forestry is capable of generating income for forest based communities through Non-Timber forest products (NTFPs) which provide food, medicine, materials for domestic use and cash income for communities adjoining forest areas in developing countries. This study evaluates the economics of producing ginger rhizomes under teak canopy in a multiple land use system during 2007 and 2008 in even aged teak plantations in Ibadan and Ife, Nigeria. Twelve $6m^2$ sample plots were randomly selected in Completely Randomized Block Design within and outside the plantation. Average ginger rhizome of (50-60 g) were planted on the slightly tilled soil. NPK 15:15:15 was applied at 180 kg/ha on a split unit dose. ANOVA, Profitability, Benefit-Cost (B/C) ratio were used to analyze data. Results showed no significant differences between sites in ginger rhizome yield, (0.089 and 0.718, ${ ho}{leq}0.05$) in 2007 and 2008 respectively. Average yield were higher outside teak canopy in both sites and treatments, (Ibadan -40.05 g>32.9 g, Ife -67.6 g>25.2 g and Ibadan -41.3 g>31.5 g, Ife -66.8 g>25.0 g) with and without NPK respectively. NPK had no effect on yields within teak plantation, (Ibadan -31.5<32.9 g, Ife -25 g<25.2 g). Ginger rhizome production was viable financially without inorganic fertilizer during second cropping season within and outside plantation (B/C=1.02, 1.09) respectively. Ginger could be raised profitably under teak canopy, however, studies on insolation requirement of ginger under teak canopy and other tree plantations are recommended.