Policies are crucial to the success of all human endeavours. They clarify existing conditions, define desired future conditions and objectives, and articulate relevant actions and strategies to reach the desired conditions. They also involve taking the necessary actions, evaluating their outcomes and impacts, drawing lessons to guide future conducts and performance and varying what is (to be) done in the light of the lessons. The essence of public policies is to improve the living conditions of people. The incidence of policy failure could be tantamount to a worsening of the living conditions of the people. This is especially so in the socio-economic sphere. Since the attainment of political independence in 1960, Nigeria has been striving towards improving its socio-economic conditions. The lingering difficulty in reversing the "Nigerian Paradox" of a country that is rich in resources while the citizens are predominantly poor is demonstrated in the determination to enhance public policy making and implementation. It is pertinent to realize that both policy formulation and implementation are complementary facets of the policy process. Therefore, we must take a holistic perspective of the policy process to guarantee the desired policy success. The importance of policies and procedures as well as their supremacy over arbitrariness is evident.