Globalization has both negative and beneficial effects on the development of country’s economy. Developing countries are more susceptible to the negative consequences of globalization, and given the current wave of globalization, it will be difficult for developing countries to insulate their domestic economies from the vagaries of globalization. This study therefore examine the impact of globalization on economic development in Nigeria. Globalization is proxied by the degree of trade openness, foreign direct investment inflow, foreign portfolio investment inflow and exchange rate while economic development is measured in terms of the human development index. To conduct the study, annual time-series data from 1990 to 2022 were analysed using the autoregressive distributed lag (ARDL) model. The findings from the study indicated that globalization via degree of trade openness and exchange rate negatively affects the development of the Nigerian economy. On the other hand, globalization through foreign direct and foreign portfolio investments inflows made insignificant positive contribution to economic development in Nigeria. Among other things, it is recommended that there is the need to improve the country’s competitiveness in international trade transactions so as to reduce the vulnerability of the economy to the perils of globalization.