This paper is used to present the application of flexible alternating current transmission system (FACTS) in the Nigerian 48-bus power system network for transient stability enhancement. Here, static VAR compensator (SVC) and static synchronous compensator (STATCOM) are separately employed to investigate the system responses when a three-phase fault is applied. Power system analysis toolbox (PSAT), a commercially available software in MATLAB environment, is used to model the Nigerian power system network with a fault introduced at Bus 33 (Geregu Sub-Station) and SVC and STATCOM installed one after the other at bus 21. Optimal location of the FACTS devices at Bus 21 (Jos Transmission Station) is achieved through the simulation of continuation power flow (CPF) and the confirmation of bus 21 as the weakest bus is illustrated with the plot of the pv nose curves for nine weak buses. Simulation results obtained without and with SVC and STATCOM revealed that with the FACTS devices, appreciable damping of power system oscillations and enhancement of voltage profile for power system dynamic stability is accomplished. Eigenvalue method of stability analysis is also employed to show the superiority of SVC over STATCOM with the generation of 142 negative eigens for SVC compared to 141 of STATCOM.