The rising spate of insecurity in Nigeria occasioned by incessant killings, kidnappings, cultism, terrorism, armed banditry and police brutality is a reason for the decentralization of police system in Nigeria. Hence, this paper assessed the decentralization of police system and police as panacea for insecurity in Nigeria. The study applied quantitative and qualitative methods; data was obtained from primary and secondary sources. The quantitative data was obtained through administration of 388 questionnaires to the respondents in Borno, Yobe, Benue, Plateau, Lagos and Ogun States representing the 36 states of Nigeria by applying purposive sampling techniques. Findings showed that 208 (53.6%) of the respondents were male while 180 (46.4%) of the respondents were female 235 (60.5%) of the respondents agreed that Decentralizing police system is the panacea to insecurity in Nigeria while 153 (39.4%) disagreed that Decentralizing police system is the panacea to insecurity in Nigeria. The paper recommends decentralization of police system with strict supervision and control of the state governors. This study will be of immense benefits to all tiers of government Nigeria Police Force and the researchers in the field of security and public administration.