This paper is a qualitative research aimed at examining Academic Libraries and the promotion of Excellence in Scholarly Communication in Nigeria. Academic libraries are vital and indispensable in scholarly communication process. The establishment of academic libraries in the accomplishment of part of their cardinal role of quality service delivery has opened new avenues for scholars to communicate and disseminate their findings with the aim of ensuring that the majority of their peers and the society at large benefit from it. Academic libraries and scholars have a relationship in the sense that they depend on each other for the actualization of their goals. Intellectual information is created by scholars, while libraries organize, preserve and disseminate same. The fact that most of the scholarly outputs in Nigeria occur in the tertiary institution is incontestable. Hence, scholarly communication becomes vital for the institution's success and prestige. This review was carried out utilizing secondary data from text books, journals, conference proceedings etc. The findings revealed that inadequate funding was a major setback in promoting scholarly communication in academic libraries. It was recommended that relevant agencies should increase the financial budget of university libraries for maintenance and sustainability of their repositories to enhance scholarly communication, there should be regular training of librarians for quality service delivery, there should be the use of effective advocacy to create awareness among stakeholders among others. The paper concludes that academic libraries are central to the promotion of scholarly communication in Nigeria.