Today, the Nigerian Nation is faced with strategic issues in her development challenges. The situation has persisted despite the pool of human and material resources enough to move the nation away from poverty and unemployment. Nigerias experience is a contradiction in an economic development theory; it is a paradox indeed, poverty in the midst of plenty; and that explains the reasons behind our historic economic failures. Each of these problems constitutes a chapter in this book. I attempted to identify each problem and the characterizations of the elements of each identified economic problems for the purposes of developing some micro-simulation models necessary for a resolution. I also in the process identified specific strategic issues and choices from the current state of economic retardation, and to move the nation towards a more desired position. The issues covered in this book stretched from macroeconomic stability, to general economic reform on taxation, debt overhang as well as econometric modelling techniques. I hope that the ideas expressed in this book will be useful in advancing the Nigeria economic prospects in the 2nd decade of the 21st century.