This study examines Nigeria’s foreign policy under President Olusegun Obasanjo’s administration (1999-2007). It provides a detailed background on the impact of Obasanjo’s shuttle diplomacy in re-building Nigeria’s image in international politics. The study analyses the domestic policies of the Obasanjo’s administration and how it shaped the country’s policy of partnership especially with the western powers and the implication of this partnership on Nigeria economic growth between 1999 and 2007. Historical research method was employed in this study. Both primary and secondary source materials were used by the researcher. The study established that while President Olusegun Obasanjo had his shortcomings in foreign policy implementation, the nation has achieved significant gains through the regime’s shuttle diplomacy. Generally, Nigeria’s increasing profile in its foreign relations implies that the nation has regained its role as a leading player in multilateral politics and diplomacy.