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Evidence abounds on surging disasters, mainly as consequences of poor risk identification and management, which have historically accompanied disaster management in many African countries. Effective management of disaster risks, whether natural or man-made, is necessary for building resilience, enhancing mitigation, preparedness, response, recovery and adaptation. As part of a broad-based risk management approach, Nigeria made frantic efforts to mitigate the effects of various disasters, by establishing relevant institutions and formulating policies. In spite of these efforts, implementation outcomes have not been adequately quantified and managed. This study reviews and assesses the policies and practices of disaster risk management (DRM) vis-á-vis institutional framework in Nigeria. It utilises available data and policy documents to review and analyse Nigeria’s institutional framework. Furthermore, the study carries out implicative scenario analysis based on the current institutional framework, to match the DRM trends. It also proffers recommendations on how best institutions could drive proper DRM in Nigeria. The strengths, opportunities, gaps and constraints associated with disaster and risk reduction in Nigeria are then highlighted.