This paper looks at the role of library statistics in enhancing management of academic libraries. It provides some insights on key responsibilities of library administrators and the relevance of statistics as indispensable tool for effective management of the academic libraries in Nigeria. Attempt was made to explain relevant concepts and types of library statistics. The paper also emphasizes the need for librarians to understand that due to the increasing complexity and sophistication in the management of library operations, it is necessary that collection and use of statistical data is given serious attention. Thus, library administrative and operational records should be considered as important sources of generating statistical data. These records include users’ profile, acquisition, cataloguing, circulation/books lending transactions, electronic information resource usage, budget and financial expenditure, etc. Therefore, the use of library statistics is very necessary in preparations of budgets, annual reports, assessing and evaluating services, prioritization in allocation of resources, and presentation of achievements. However, the major constraints that hinders collection and use of library statistics in Nigerian academic libraries were highlighted. These constraints include organizational structure of library organogram, staff unease with qualitative analysis, lack of skill-sets for good data analysis, and poor presentation skills among others. Hence, the paper concludes that, in Nigeria, collection and use of library statistics has not been given attention, especially when compared to the situation in some African countries and the developed world. Consequently, some recommendations were made, which include capacity building for librarians, developing standard for collection and use of library statistics, and integration of technology in generating statistical data to support making sound decision for effective management of academic libraries.