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This study surveyed the challenges faced by the university libraries in South East Nigeria in selecting and acquiring electronic resources. The descriptive survey research method was adopted for the study. The population consisted of 86. Questionnaire and interview were used for data collection. Data collected from the questionnaire were analyzed using simple statistics (mean). The findings revealed that the university libraries under study had considered all the thirteen criteria when selecting electronic resources in the library which had mean values ranging from 2.70 to 3.41 and are all above the cut-off point of 2.50 on a 4-point rating scale. The findings also showed that the university libraries use multiple tools to select the e-resources, and the overall mean showed that the use of trial offers by mounting a link to their resources without cost (mean = 3.12) is ranked highest and used mostly by the libraries, while the use of reviews provided through electronic resources (mean =2 .57) is ranked lowest as tools used in sound electronic resources selection in libraries; that the libraries use different methods to acquire the e-resources which include, through subscription, purchase and open internet source. None of the libraries under study was into a consortium with one another. However, the study revealed twelve challenges with cost as a major challenge of selection and acquisition of electronic resources. The study recommended that the university libraries in South East Nigeria should improve on the libraries budget in order to attain to the cost of electronic resources and for the training of staff that will handle the electronic collection development. That the libraries should take a drastic initiative of acquiring electronic resources through a consortium in order to enjoy the discount associated with consortium subscription.