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Nigeria is the most populous black nation in the world, a member of the UN Security Council, and the largest economy of Africa. In addition to its globally acknowledged qualitative oil, it also has large deposits of mineral resources including tin, coal and gypsum, gold, and lead. The country is not only engaged in a passionate competition with South Africa to attain the position of a continental superpower preparatory towards becoming a globally acknowledge giant but also comfortably playing a big-brother role among Africa nations. This paper uses documentary analysis to examine Nigeria’s social, economic, and global potentials of fulfilling its dreams vis-a-vis the potentials of its competitor(s). The paper found out that Nigeria faces multidimensional challenges on its path towards continental leadership ranging from domestic problems of rising crime, incessant insurgency, dilapidated infrastructure, growing unemployment, over-reliance on dwindling oil income and leadership crises among others to intense competition from other strong African countries like South Africa, Egypt, and Ethiopia. The paper concludes that the country’s goal of a regional superpower status is achievable but Nigeria must address its domestic challenges to win the race of attaining continental hegemony.
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