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The study is set out to critically examine the New partnership for Africa's Development (NEPAD) and the challenges of the Millennium Development Goals in the 21st Century. The central research questions that formed the foundation of the study were: Does NEPAD's development strategies fall within development prescriptions of the MDGs? Does NEPAD's stabilization prescription reflect conscious efforts by African leaders to reduce the incidence of poverty? Is NEPAD an alternative to failed development initiatives in Africa? However, to enable us address these puzzles, we designed the following assumptions: The tendency for Africa's received development initiatives to employ modernization strategies appears to institutionalize vicious cycle of underdevelopment in the region. The reliance of developing economies on foreign aids and grants for their development efforts and poverty eradication appears to increase the dependent status of capitalist states. Lastly, we posit that, the inability of African leaders to evolve a home-grown development partnership will likely make NEPAD another failed attempt at Africa's development. "The author can be reached at iwuamadikc@yahoo.com".