Abstract: The quest for development is universal. This is perhaps one of the most profound statements one could make in economic theory and analysis. The reason is that every nation seeks to advance from its present level to a higher. Conceptually, development is usually taken to connote the idea of an increase, or progress or expansion for the better. However, it is not unusual for people to conceive of development merely in terms of an increase in a nation’s GDP or GNP levels. The idea here is that the quantum of a nation’s material accumulation determines whether the people will be happy or not. Incidentally, it is in this sense that African states conceive of development. In the study, this idea of development is tapered and short-ranged. The study proposes the human capability approach to development; this is an approach that recognizes the role of morality or personal values in socio-economic advancement. According to the approach, development can only said to be meaningful and full-orbed if it promotes human welfare. Development, the study avers is concerned with human interests and well-being. Put differently, people are the real goal of development. Similarly, development depends upon good governance and the existence of strong social institutions. In consonance with this type of argument, the study posits that Africa’s quest for socio-economic advancement will only be actualized if African states are able to evolve solid social institutions and governmental structures that accord respect to the dignity and will of the people.