Globalization has both cost and benefits, but experience have shown that the costs of
globalization for Nigeria seem to have outweighed its benefits. Therefore, this study sets out to
assess the impact of a globalised world as regards Nigeria's trade and industrial policy on the
country 's level of economic growth. The study utilized secondary data from the annual reports
and accounts of the Central Bank of Nigeria (CBN) from 1970-2012. The data obtained were
analyzed using the Ordinary Least Square (OLS) and the Error Correction Mechanism. The
findings of the study show that "free-trade " which came as a result of globalization has not had a
positive impact on the Nigerian economy and hence concludes that globalization has done more
harm than good to Nigeria. Thus, the study recommends that Nigeria should put in place an
industrial policy which should create enabling business environment within the country by
providing incentives to manufacturers, ensuring regular and uninterrupted power supply as well
as promoting agriculture
