The need for improvement in undergraduate instruction in Nigerian Universities necessitated this investigation. The survey used a random sample of 200 lecturers drawn from five of the public universities in Nigeria. It sought to find out how lecturers perceive the importance of student evaluation, both for formative and summative purposes. The 20-item questionnaire used for the collection of data had a reliability coefficient of 0.61. The data collected were analysed using the Z-test statistic. It was found that lecturers generally do not accept student evaluation, particularly when it is for summative purposes. Despite lecturers' apprehension, it is recommended that student evaluation of classroom teaching should be made mandatory and conducted regularly in Nigerian universities. (Contains 1 table.)