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Academic libraries in Nigeria must meet the demands the 21st century. The world is witnessing a revolution as a result of developments in ICTs that has permeated all sectors. This paper discusses the paradigm shift in academic library services. It also analyzes academic libraries situation in Nigeria within the context of inadequate funding. If academic libraries in Nigeria are to measure up to expectations in the 21st century, they must develop coping strategies to overcome some of the major challenges.