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A survey was conducted in the thirteen federal university libraries in southern Nigeria to determine serials processing activities and the problems which hinder effective serials processing. A questionnaire was distributed to 65 purposively selected serials staff from the libraries. Forty-eight (82.75%) of the returned questionnaires were found usable. The average of 50% and 2.5 were taken as positive bench-mark for dichotomous and Likert point scale items on the instrument respectively. The result shows that serials processing activities in southern Nigerian federal universities libraries include collation, stamping, recording, cataloguing, classification, and stock taking.Processing activities differ significantly among the libraries in the South East, South West, and South-South geopolitical zones of the country. Serial units in the South West zone university libraries are more developed. Effective serials processing in southern Nigeria federal university libraries are hindered by variables relating to processing tools and nature of serials.