The study examined the information literacy (IL) competencies of management science students at the University of Ilorin, Nigeria. A survey research design was adopted. Data was collected through a questionnaire developed by the authors. A total of 337 randomly selected undergraduate students from six departments represent the sample for the study. Six research questions were developed and answered. The findings demonstrate that respondents generally perceived information literacy IL as an insight on how to effectively and efficiently access and select needed information and as a tool for long-life learning. Respondents have high IL skills in the use of the internet to access information needed in their field and can assess such information from various sources. Competence in the circulation of information, identifying and locating information, and accessing sources and evaluating information are the areas of strength revealed in the study; while the weaknesses identified are inability to determine when information is needed, none awareness of specific search engines. The results also reveal that respondents can use IL skills to retrieve information, search the library, and use specific search terms. Prominent information literacy courses offered are the use of libraries, introduction to computers, and IL training on the use of popular search engines such as Google and Ask Me. The common factors confronting the teaching of IL are power supply, high cost of computers, and limited time available for IL practical and hands-on.