It is hard to imagine learning science without doing laboratory or fieldwork. The research work in this paper assessed the state of physics laboratory teaching and learning resources in some selected universities in the South West geopolitical zone of Nigeria. The survey was carried out in five universities namely The University of Lagos, University of Agriculture, Lagos State University, Olabisi Onabanjo University and Covenant University. An 88-item inventory assessment questionnaire was administered and responses were collated for analysis. Descriptive statistics were used to analyse the data derived from the study. Findings revealed that there is dearth of modern and specialised physics laboratory equipment/resources; and the obsolete state of most workshops. Inadequacy of the available resources was also observed where some universities combine physics students from the Faculties of Education and Science for most practical sessions. Based on the findings, the study proffers some recommendation that could improve the resource situations in these universities.