The paper investigated the impact of the recent global financial crisis on macroeconomic performance in Nigeria. Specifically, the impact of international shocks to domestic output, government expenditure, exports and domestic credit to the economy were examined. The paper employed secondary data for the period 1970:1-2009:4 and the Structural Vector Autoregressive (SVAR) econometric technique was employed in the analysis. The study explicitly found that following the global financial crisis, an international shock to the domestic economy immediately led to a slight and insignificant decline in output, export demand and domestic credit, while government expenditure showed no response at the earlier period of the crisis. This implies that though the crisis has not seriously affected the Nigerian economy in the short-run, its impact on the long run may be devastating. The study suggested active government regulation to cushion the effect of the crisis.