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This study assesses the Acquisition and Collection Development Activities in academic Libraries in Nigeria with attention on the experiences of Joseph Ayo Babalola University Library, Ikeji - Arakeji. Six research questions steered the study. An Assessment Survey Design was espoused in carrying out the study. The total population for this study was three hundred and sixty-seven (367) respondents comprising of lecturers, students, library and administrative staff of the university and other users of the library. The major instrument for data collection was questionnaire. Three hundred and sixty-seven copies of questionnaires were disseminated to respondents, out of which three hundred and thirty-five copies were returned, representing 90.3%. The data was analyzed using frequency tables, simple percentages and means scores. From the analysis, the findings revealed that the most sought information material in the library under study is books (textbooks). The result also shows that information materials are acquired mainly by purchases and gifts or donations. The study indicated that information materials like books, journals, and reference materials are more current than other information materials in the library and that collection development policy is oral and not well written as a document and encompasses only acquisition. Obsolete materials, worn out materials, inadequate professionals, problem of storage facilities, lack of sufficient funds, and lack of collection development policy and duplication of titles are some of the difficulties encountered in developing library collections. Based on the analysis findings, it wassuggested that libraries ought to have a written collection development policy that will embrace acquisition, selection ,weeding, gifts and exchanges, there ought to be consistence staff training in workshops and seminars, library staff should consult with lecturers in order to get information on the their curriculum so as to acquire materials that will suit the curriculum, employment of qualified and experienced library staff, provision of space for the library to enable it to have archives where it can deposit outdated materials. The study concluded that adequate and efficient assessment of acquisition exercises and collection development in academic libraries would effectively improve the performance of the university’s research output.