ABSTRACT Background: The problem of alcohol use among young people remains a serious public health concern. Objective: This study investigated the prevalence and psychological correlates of alcohol use among university students in Nigeria. Methods: A cross-sectional survey was conducted across six randomly selected Nigerian universities with a sample of 1,173 students comprising of 673 males and 500 females aged 21.68 ± 5.42 years. A structured questionnaire containing measures of alcohol use, self-efficacy, depression, and life purpose was used for data collection. Data were subjected to SPSS v.22 for statistical analysis. Results: About one-third (31.3%) of the respondents reported current alcohol use; 16.8% were non-risk drinkers, 3.9% were hazardous drinkers, 1.5% were harmful drinkers, and 9.1% were dependent drinkers. There were significant differences in alcohol use across age groups and geographical locations. Self-efficacy (r = −.17, p < .01), depression (r = .20, p < .01), and life purpose (r = −.31, p < .01) significantly correlate with alcohol use. Conclusion: Prevalence of alcohol use among university students remains high. More evidence-based prevention and intervention programmes should be targeted at this population.