This study, an analysis of development in Nigerian balance of payment (1995 – 1999) was carried out to assertion whether Nigeria has been paying her wages internationally to examine the statement with a view to determine what recent developments have taken place in Nigerians foreign trade and others transaction with the rest of the world.

Information was collected using literary method i.e. various publications, textbooks newspapers, magazines and journals.  Also, oral interviews were used to elicit information from some government officials (staff).

It was found out that the exports receipts were sufficient to pay for the imports and settle some international obligations that fell due within the period, the fact remains that the managers of the economy did not exercise a considerable amount of control over the foreign exchange resources.

It was however, recommended that if not for the debt management strategies pursued by government during that period, there would have been more years deficits in the balance of payment position over and above four years recommended.