This paper examines how Nigerian Libraries can leverage on social networking and social media skills to provide dynamic library services in the face of dwindling economic problems in Nigeria. The unprecedented technological advancement of the 21st century, no doubt has impacted on library services globally and in Nigeria in particular. The social media hype has gradually crept into the library profession- with social sites such as Facebook, MySpace, Flickr, YouTube, Library Thing, Ning; it has become evident that our services will need to change to meet the growing needs of our end users. Libraries in Nigeria have been challenged like never before to render more proactive and more value added services to meet the ever changing needs of our patrons. This paper is therefore, an attempt to examine the present scenario in library services delivery with these new and emerging technologies. Challenges faced by Nigerian libraries in the use of these social media are investigated and possible solutions proffered.