Abstract
There has been a rapid growth of the world economy in recent times. This growth can be traced partly to the current rise in international trade and can also be traced to both technological development and several efforts put in place to reduce trade barriers. To reach this pinnacle of growth, several countries have opened their boundaries for economic development offered through trade while others have been pessimistic about the benefits. Absorption into the world economy has promoted economic growth and development. The author examines globalization, trade liberalization policies and Nigeria economic development. Doctrinal research method was used in this paper with reference made to both primary sources;(books), and secondary sources (both hard copy and online journals). The author further examines the factors that enhances trade liberalization and Globalization, analysing the effects and Challenges of Trade Liberalization. The paper assesses the Privatization Policy in Nigeria, identifying Covid-19 Pandemic as a major factor that affected globalization in trade in this recent time and examines the effect of the pandemic on trade and economic development.