The content and knowledge economy defines the level of productivity of individual and sustainable funding of ICT facilities in libraries is the prerequisite for this expected enhanced productivity In today's globalized world, e-library has become a depository of various human and material resources that enhance the knowledge economy E-books and journals, online references, web-resources and web-catalogue are some of these resources This the need for sustainable funding of ICT in libraries in order for libraries to be updated with current information that approximates the global knowledge base The move towards knowledge economy requires a fundamental shift in thinking, innovation, generic and subject-specific competences that only a well-funded library can provide. This paper adapts u holistic approach to salient issues on funding of academic libraries, the challenges prospects at all levels should change their attitude towards the funding and provision of ICT infrastructures and facilities In Nigerian Libraries. More proactive and dedicated implementation of IKT policy in Libraries should be encouraged and the training and retraining of Librarians in ICT skills should be taken seriously because it is a necessity for users to benefit from library services in this globalized age