Foreign policies of nation states are driven by their National Interest which conduct have implications for domestic growth and international stability. This paper attempts an examination of some aspects of the pursuit of national interest of the United States under George W. Bush and Nigeria under President Olusegun Obasanjo. The paper posits that there is a nexus between the pursuit of national interest and international stability and development which world powers have undermined. The consequences are the militarization of the worldÃ¢â‚¬â„¢s space, destabilization of nation-states and treat to worldÃ¢â‚¬â„¢s peace among others. The paper cautions that peace and stability as sine qua non to sustainable development can only be sustained if world powers exercise restraint in their pursuit of the national interest.