Due to precarious socio-economic ambience and the global publicity it has generated, sub-Saharan Africa has become synonymous with poverty, and Nigeria hosts the largest population of poor people in the region. Although several ideas have been generated domestically to address the scourge but the persistence of poverty in large scale explains the inherent limitations in government interventionist measures. Consequent upon this, the inauguration of the MDGs, which represents an attempt at combating poverty through global partnership for development, appears to constitute the key to Nigeria’s escape from poverty trap. Worrisomely however, the current progress towards the attainment of the goals is approximately at a snail’s pace. The paper therefore critically examines the problems and prospects of achieving a remarkable reduction in Nigeria’s poverty profile within the framework of the MDGs. To escape from the doldrums, the paper argues that sound reform practices are required.