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Understanding the scope of elite transformation towards good governance in developing countries' polities is no doubt fastidious amid attendant context fluidity, institutional instabilities, and literature paucity. Nigeria's post-colonial polity has witnessed various structural changes, especially in political regime and economic resources. Since the 1999 transition to democracy, no regime breakdown occurred. Curiously, the Nigerian polity has been experiencing spasmodic ethnic clashes, the onslaught of the menacing Boko Haram terror group, the economy disruptive Niger Delta insurgencies, and acute youth discontent with protests often countered with violence by state security agents. Moreover, social infrastructure provision for economic growth and development remains extensively precarious or non-existent. Most vexingly, systematic knowledge about the transformability of the policy decisive and often-critiqued political elite is deficient or sparsely jumbled. Much has been extolled about governance per se, yet context-relative and data-oriented knowledge remain scanty. To what extent is the Nigerian political executive elite composition transforming towards good governance since 1999? The article focuses on the Nigerian political elite transformability through good governance lenses and practices. It draws from relevant elite theories and governance approaches that underscore the methodology. It contends that the political elite innovation remains stagnant, despite relevant structural changes. The findings reveal insignificant elite dynamics towards good governance. [ABSTRACT FROM AUTHOR]