This study sought to investigate Risk, Uncertainty, Subjective Risk and Attitude to
Risk: A Comprehensive Analysis of Risk Management of Projects in Nigeria and it is narrowed
down to public sector projects. Public sector projects in Nigeria play a critical role in national
development, infrastructure expansion, poverty reduction, and socio-economic transformation.
However, these, delays, abandonment, corruption risks, political interference, policy
Inconsistency and uncertainty arising from economic volatility. These challenges are the
concepts of risk, uncertainty, subjective perception of risk, and institutional attitude toward risk
management. While risk is often measurable and manageable through structured frameworks,
uncertainty represents unknown variables that complicate forecasting and planning. In the
Nigerian public sector context, risk management practices remain inconsistent, reactive, and
insufficiently institutionalized. This study presents a comprehensive theoretical and analytical
examination of risk and uncertainty in public sector project management in Nigeria. It explores
the distinction between objective and subjective risk, analyzes institutional and managerial
attitudes toward risk, and evaluates the effectiveness of existing risk management practices.
Using documentary research design and secondary data from academic literature, policy
documents, and empirical studies, the paper identifies structural weaknesses in governance,
planning, implementation, and monitoring mechanisms. It further argues that subjective risk
perception, influenced by political, cultural, and administrative factors, significantly shapes
project outcomes. The study integrates contemporary risk management theory with public
administration practice in Nigeria and highlights the relevance of strategic planning, monitoring,
and verification systems in mitigating project risk. Findings indicate that inadequate risk
assessment frameworks, weak institutional accountability, and poor implementation culture
contribute to project failure. The study concludes with recommendations for institutionalizing
proactive risk management systems, strengthening regulatory frameworks, enhancing
professional capacity, and integrating data-driven decision-making into public project
management processes.