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Many Nigerian graduates and non-graduates are unemployed in Nigerian society which has become a national problem that is threatening the security, unity, political and economic development of Nigeria, in effect, the situation has resulted to insurgency, tribal conflicts and fundamentalism among other social challenges which this paper believes that if undergraduates students in institutions of higher learning are educated along information literacy and entrepreneurship skills programmes, the situation could have been different. The paper has surveyed information literacy and entrepreneurship for employment in Nigeria and identified various information literacy skills for entrepreneurship and employment opportunities in Nigeria. There are many reasons for unemployment and under-employment, lack of information literacy skills have been identified as one of them. The paper therefore, reviewed the relevance of information literacy skills in the society as well as the need for acquisition of entrepreneurship skills, highlighting the relationship among information literacy, entrepreneurship and employment. The article exposed the challenges of acquiring information literacy skills for employment, in spite of challenges, the paper made cogent recommendations and drew its conclusion.