Nigeria external relations with the outside world started a long time before she gained her autonomy as an independent State. Her involvement in various international organizations has to a large extent brought her close to the front line of action in the world politics.This study therefore examines the participatory role and contributions played by Nigeria in the Commonwealth of Nations Organization. It is on the foundation of dependency theory that the theoretical framework of this study was built upon. This study briefly analyses the contributions of the organization to the social, political, cultural and economic development of Nigeria as a member State in the areas of debt relief, democratic consolidation, education, sports and culture.In sum, it attempts to answer the question of many critics against the Commonwealth organization as to the whether Nigeria and other third world countries have truly benefitted from the organization.