This paper looks at the multiple challenges facing Nigeria as it prepares for presidential and legislative elections on 14 February 2015. These elections will take place amidst an atmosphere of even greater crisis and uncertainty than usual. Boko Haram’s insurgency in the north of the country continues unabated. There are fears that the country might break up if the election aftermath is poorly handled. However, some observers remain remarkably hopeful about Nigeria’s future, predicting that its enormous economic potential is on the verge of being realised at last.