Institutional repository (IR) is the channel through which an academic institution showcases her research power to the world. To this, academic libraries are under obligation to provide access to both print and electronic resources especially those generated within the university in order to increase access to information resources and visibility of their institutions as a measure of prestige and recognition internationally. It is in view of the above that this study on ‘the current state and building of institutional repository in the library of Alex Ekwueme Federal University Ikwo, Nigeria’ is carried out. The study investigated the state of the institutional repository; the content; the software in use in managing the IR and the digital preservation strategies. The study also identified certain challenges that have hindered the building of the university’s IR. Tables, figures and percentages were employed in analyzing both quantitative and qualitative data collected.