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The paper discusses the development and promotion of social media policy in academic libraries in Nigeria. Academic libraries are charged with the responsibility of supporting their parent organisation in achieving the institutional objectives which involve providing support for research and educational activities. Having such crucial roles to carry out, the use of social media has become a helpful tool in the delivery of services to users. Social Media has provided new opportunities for libraries and librarians in the world. In academic libraries, they are used as a powerful tool for communication by providing an excellent platform for an active and knowledge network community that individuals can exchange and share their valuable information. Nowadays, many libraries are aware of the importance and application of these social media tools in their libraries and as it is being used in many libraries in the world. Despite this use, there are still some concerns in terms of its misuse, for example, issues of privacy, loss of an authoritative perspective, information overload and work/life balance in academic libraries. Lack of privacy and identity theft, Confidentiality of information, Lack of knowledge on how to use it and Low interest of librarians in learning and utilizing social media can also be other forms of negative issues. This paper, therefore, proposes a policy for social media use in academic libraries that will respond to the criticism and negative issues that will reflect the institution's goals, missions, and objectives.