A system of governance is good when it is legitimate, participatory, transparent and accountable, operates by the rule of law, efficient and effective in the use of resources, responsive to the needs of the people and promotes equity and equality. In Nigeria, years of economic exploitation, mal-development and bad governance have continued to fan the ember of conflicts and crisis in the country. A failed, corrupt and inept leadership coupled with inclement domestic socio-political environment have plunged development performance into the abyss. To progress from bad to good governance and from weak to strong development performance, Nigerian political leaders must adhere to the core fundamentals of good governance without which socio-economic and political development will continue to be an illusion. The cardinal objective of this study is to demonstrate that core fundamentals of good governance impact significantly on development performance. This study adopted qualitative research design as data were collected from secondary sources. The technique of content analysis was applied to analyze the data collected which helped us to make interpretations coherently. The study revealed among other things that governance issues are the bane of development performance in Nigeria. The study therefore, recommends among others that for good governance and strong development performance to be feasible in Nigeria, transparency and accountability, rule of law, electoral legitimacy, efficient and effective service delivery, administrative competence, civil liberties and participation must be guaranteed. [ABSTRACT FROM AUTHOR]