This study examined the relationship between public sector reforms and debt management in Nigeria. debt relief, debt restructuring, and debt servicing were modeled as the function of economic reform, financial management reforms and administrative reform. Ordinary Least Squares (OLS) was used as data analysis method. The study formulated three regression models. Model one found that 82.7 percent variation in debt relief in Nigeria was explained by public sector reforms. The results of model found that financial management reforms have negative effect on debt relief while administrative reforms and economic reforms have positive effect on debt relief.  Model two found that 76.1 percent variation in debt restructuring in Nigeria was explained by public sector reforms. The results of model found that financial management reforms have negative effect on debt restructuring while administrative reforms and economic reforms have positive effect on debt relief.  Model three found that 91.5 percent variation in debt servicing in Nigeria was explained by variation in public sector reforms while results of model found that financial management reforms have negative effect on debt servicing while administrative reforms and economic reforms have positive effect on debt servicing.  The study suggests that the public sector financial management reform agenda should primarily concentrate on enhancing efficiency and accountability within government entities. The reformists thought that better management of the economy or the market would make the government’s units more efficient and accountable, which has been a concern for a while.