The world has been described as a global village due to enhanced global communication and interaction among people of different nationalities. Education is not left out in this interaction as there are available means or mechanisms through which ideas and information are exchanged among scholars and seekers of knowledge of the world. This paper examines issues on globalization and higher education in 21st century Nigeria. In order for clearer understanding of this matter, the topic has been segmented into sub-headings, clearly stating the content analysis of the study. The objective of the paper is to carefully examine the role of globalization on the development of education, to assess its influence on scholars in the Nigerian educational system, it considers the progress made by Nigerian scholars and the position of Nigerian students at global educational endeavours. Careful assessment of these facts reveals some gaps on the Nigerian educational system that have hindered effective competition by Nigerian institutions with their counterparts at the international level. This study has used secondary sources such as text books and journals. It has suggested the way forward for a globally competitive higher education in Nigeria.