Since the attainment of flag independence in 1960, Nigeria has been embarking upon the gargantuan task of nation-building to launch the country into socio-economic security and prosperity. This has not been possible due to combined factors of long military dominance in power, poor economic planning and irresponsible democratic leadership. This article established a nexus between democracy and development and maintained that democracy had not been able to deliver the much anticipated development dividends. This paper asked two questions: is democracy merely the conduct of elections by hooks or crooks that lack international credibility? Or does democracy demonstrate the notion of popular power where the citizens would not be mere repository of power in the society but actually participate in everyday policies and authoritative allocation of values? This article answered these questions and posited that there should be organic linkage between democracy and development so as to enthrone a society of political and socio economic indicators of modernization and development.