Education plays a pivotal role in the development of any country, because it serves as an instrument of training the human resources in a way that will engender the discovery, exploitation and utilization of the creative potentials and skills of the individual to improve himself/herself and for the general development of his/her society. On the other hand, polytechnic education which is the focus of this paper plays a vital role in the development of the human resources by providing skilled manpower which enhances industrial productivity and improves the quality of life. It is no gainsaying that a country cannot develop beyond its level of technological knowhow as it is in the world today, thus, polytechnic education is germane to national development. But unfortunately, the attention that the polytechnic education needed to take the country to a greater height has not been given to it. This paper therefore, examines the polytechnic education in Nigeria, its prospects and challenges in enhancing national development. It also makes suggestions on how to improve polytechnic education in the country.