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This study investigated library as a change agent: the invaluable roles of library in private higher institutions of learning in South-west, Nigeria. The study was aimed at identifying the emerging roles of libraries; investigate the ways the emerging roles in libraries have influenced the higher institutions and examine the technological change the library has brought to the higher institutions of learning. The descriptive survey method was used for the study, the population of the study is 32 respondents from higher institutions of learning in South-west, Nigeria. The researcher adopted the entire population as the sample size for this study using the complete enumerative sampling technique. Questionnaire was used as the instrument for data collection and 32 copies of questionnaire were administered for this study. In response, 31 copies were retrieved and found useable, thereby indicating a response rate of 97%. The data was analysed using descriptive statistics (frequencies). The study contributed significantly to knowledge as it was able to identify the novel roles of libraries in this digital age. The findings revealed that libraries are now performing newer roles in order to keep pace with technological advancement. This new roles currently performed by the library has also transformed learning in higher institutions of learning. The study concluded that the library has acted as a change agent in institutions of higher learning by fostering the creation of new academic communities on campus (virtual community), enhancing life-long learning, improving communication linkages and consultations between policymakers, policy analysts, and policy beneficiaries as well as supporting, managing and improving the institution’s intellectual capital. The study recommended that adequate funds and resources be allocated to the library in order to improve the priceless and invaluable services rendered by the library as libraries in Nigeria are generally underfunded.