This paper set out to discuss issues of democracy, good governance and development in Nigeria. The paper begins by conceptualizing the concepts of ‘democracy’, ‘good governance’ and ‘sustainable development’. It utilizes secondary source of data collection, while, the approach used in the paper is descriptive and content analytical. The paper adopts the Marxist political economy strand of conflict theory, and argues that there is the problematic of poor leadership and bad governance as democratic practice and governance in Nigeria is not practiced in tandem with basic democratic principles and values of good governance. This trend of governance, has no doubt impedes development efforts of Nigeria as a nation. To evolve virile and viable democratic governance, emphasis should be on strict adherence to democratic values and good governance /leadership such as accountability, sound economy, virile and viable civil society, among others.