This paper assessed the extent to which federal university libraries in Nigeria have prepared for management of their records in electronic format. Specifically it investigated the extent to which university libraries have provided ICT infrastructures for digital records, made institutional plans for e-records management, and enacted policies that guide e-records management, among other areas. Survey research design was used. The instruments for data collection were questionnaire, observation checklist, and oral interviews. The population of the study was 84 librarians drawn randomly from 18 federal university libraries in Nigeria. Data was analyzed using mean scores and simple percentages. The criterion of judgment was that if the mean value of any item of the research instruments scored 2.50+ and above, it was rated high; if otherwise, it was considered low. The study found that ICT facilities were available in all the libraries, but the state of preparedness for their utilization for e-records management was low. Inadequate funding, intermittent electricity supply, absence of e-records management policy, etc. were the major factors hindering preparedness for e-records management. Adequate budgetary provision, increasing power supply, and enactment of digital records management policy were among the recommendations made. With regards to practical implications, federal university libraries may not steadily use their e-records in a networked/connected environment. These records may become inaccessible over time. This study was the first to investigate extensively on the state of preparedness of Nigerian university libraries for digital records management.