The study examined the reasons behind the resource curse as well as the difficulties Nigeria's economic development faces. The main issues noted were excessive reliance, a large debt load, the impact of trade shocks, the political business cycle, exploration expenses, corruption, revenue loss from subsidies, oil theft and vandalism, operational costs, resource swapping, the influence of multinational collaboration, the absence of industrialization, the impact of imperialism, a lack of advanced technology, inconsistent government policy, and ethnic conflict, among other issues. These obstacles contribute to the underdevelopment as of the Nigerian economy. It was determined that in order for Nigeria to experience meaningful development, the government and its various organizations needed to implement new policies and strategies to coordinate the management of the abundant resources with which nature has blessed the nation in a way that will further the country's economic development.