Nigeria is richly blessed with natural and human resources but the country is ranked among the low income countries and low standard of living. Despite the huge revenue from oil economy, majority of the population is in dire poverty. The multidimensional poverty report published in 2022 by the National Bureau of Statistics (NBS) indicated that Nigeria has a poverty index of 0.257, with 133 million people living in multidimensional poverty (NBS 2022). Nigeria attained independence in 1960. Since then, her political history has been underscored by loss of self-sufficiency in food production, economic decline, and mass poverty. Much of the extant literatures blame the countries woes as being originated from the colonial period. This paper contends that the origins of these issues are rooted in the political realm. The economic obstacles confronting the nation are a direct result of how political authority is wielded and monopolized by a small, privileged group who has structured society to their advantage, often at the expense of the broader population. The nation is under the control of individuals who lack moral integrity. Plato equates virtue with excellence, either as an inherent quality or one that can be cultivated through education. A truly virtuous person is guided by reason. The primary aim of this paper is to emphasize that without Nigeria being structured in a manner that fosters the dominance of reason, particularly among the political elite, progress will remain elusive. Plato's theory of the Political Community can offer valuable guidance in this regard.