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.