The Nigerian economy is largely dependent on crude oil and the believe that the revenue generated from the crude oil export will be reinvested to develop the other important sectors of the economy. The president Goodluck Jonathan adopted the neo-liberal economic policies to achieve his aims of revitalizing Nigerian economy. Thus, this study is structured to expose the role of the Nigerian state in enhancing capitalism. The crux of the matter is that the few ruling class in Nigeria exploit, dominate, and control the resources to the detriment of the majority poor masses who suffer the economic effects of the policies made by the present government in power. Notably, the Marxian theory of post-colonial state was used to explicate more fact on the data. This theory helps to explain the variant ideals by the neo-colonial state, such as Nigeria. In the essence, the study tends to investigate the socio-economic policies and management, the economic effects and the future of Nigerian economy under President Goodluck Jonathan. The qualitative method of analysis was also adopted based on the empirical nature of the study, cognizance analysis were also made on the information and facts availability provided by books, media, websites and official documents of the federal republic of Nigeria. Following this trend, the hypothesis were validated by the empirical indicators of the impact of the economic planning and management under President Goodluck Jonathan on the citizens. The study therefore advocates that new liberal economic policies of the incumbent president cannot bring development in Nigeria.