Africa has struggles with leadership problems over the decades. More especially, Nigeria has struggled with bad leadership of the country through corrupt practices which culminates in paucity of social and human capital. There are cases of arbitrary military decrees in the past. The cumulative effective of previous autocratic regimes is that it enthrones the rule by individuals and dethrones institutional governance structure. The methodology adopted in this paper is based on literature review, governance experiences in the course of implementing government policies, and societal reactions and feedbacks from citizens. This paper examined the concept of rule of law vis-à-vis good governance as it ought to be for promotion of institutions above individuals in Nigeria. The paper anatomised challenges and effects of building and sustaining strong institutions in Nigeria. Keywords : Rule of Law, Institutions, Good Governance DOI: 10.7176/JLPG/97-09 Publication date: May 31 st 2020