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Nigeria was under military rule for near to 30 years out of her 55 years of existence after independence. During this period, corruption reached peak levels causing societal retrogression. The dawn of the Fourth Republic in 1999 heralded the revival of elections in the country. It is against this background that this study investigates the extent to which democracy has advanced and improved the living standards of citizens and increased per capita income among others. A total of 642 people, 393 males, 236 women and 13 respondents took part in the case study. The study underscores the need for a policy road-map while hinting at a strategic framework for understanding and addressing the ‘democracy-development nexus’ in the Nigerian political system.