This study is focused on leadership and the challenges of nationhood in Nigeria. Leadership is seen as a practical skill that involves the ability of an individual or organization to lead or guide others to organize or direct their efforts towards the achievement of desired goals. Nigeria as a nation has experienced various leaders from independence till date, some democratically elected while others emerged through coups. These leaders have all contributed immensely towards building Nigeria either positively or negatively. The objective of this study is to examine the challenges Nigeria as a nation is confronted with as a result of those years of leadership. The study predominantly utilized secondary data and elite theory in its analysis to posit that the challenges facing Nigeria is enormous ranging from poverty, insecurity, corruption etc. Findings revealed that Nigeria has lost track in its attempt at becoming a strong, formidable and developed nation. However, all hope is not lost. Thus the study recommends that those in leadership or aspiring to be leaders should be committed to their responsibilities by practically doing what they say as well as living by example if Nigeria is to transform to one of the most developed nation in the world. Keywords: Nigeria, Leadership, Issues, Challenges, Development.