This experiment was designed to evaluate the nutrient content of some locally available feed ingredients and to estimate their production cost for their utilization in production of mixed rations for ruminant. The feed ingredients used were Maize bran, Cowpea husk (energy sources), groundnut haulms and poultry litter (protein sources). The formulation was based on the ratio 60:40, energy / protein ratio respectively and ten formulations F1 – F10 were developed. There was significant (P<0.05) variation between the proximate composition of all the rations with no significant (P>0.05) difference in Metabolizable Energy, ME amongst F2, F3, F4, F5 and F7, F8, F9, F10 except F1 that differs (P<0.05) significantly from F2 through to F10. The proximate composition revealed that the mixed rations had a range of 99.8% - 89.6% DM, 15.80% - 4.37% CP, 46.00% - 25.5% CF, 8.00% - 3.00%Fat, 15.00% - 2.00% Ash, and ME 18 – 12.13 GE MJ/Kg.DM). All the formulations recorded above 50% degradability at 48 hours period of incubation. More so, the cost of production for each of the formulation showed that the highest cost of production was N 3920.70 about USD $25.21while the least was N3457.80 about $22.30per 100Kg formulation which is moderate and affordable.