This paper examines globalisation and Nigerian Educational Policies. Different Educational Policies that the Nigerian Government had previously embarked upon were assessed. The failures of various policies were looked into based on who originated the policies; drew up the policies; the budgetary allocation to education; other sources of funds available for education; utilization of available resources in terms of accountability, and how Nigerian citizens view globalisation and their educational system. Nigerian Tertiary institutions formed the population of the study. A stratified random sampling procedure was used to select 10 universities that participated in the study. Four of these universities were Federal Government owned; three were State universities while three were private universities. An instrument, Globalisation and Educational Policy Inventory (GEPI), was developed and used for the collection of data. Experts in the area validated the questionnaire. The reliability was tested using Pearson Product Moment Correlation. The reliability coefficient of 0.69 was obtained. The Spearman Brown formula yielded 0.82, which showed that the instrument was reliable. A z-test was the statistic used. The major findings were that all major stakeholders in education were not involved in drawing up educational policies. There was a very low budgetary allocation to education. Many Nigerians, although they enjoyed the information technology of globalisation, feared that their culture and values were losing ground to foreign culture and values. Based on the above, it was recommended that all stakeholders in education should draw up educational policies, which should be backed up by the minimum standard budget of 26% recommended by the UNESC0. (Contains 4 tables.)