This study investigated the mediating influence of lecturers and students' characteristics on the acquisition of research skills among postgraduate students. We adopted a correlational research design involving (n = 628) postgraduate students who participated in the study. Two instruments, titled Postgraduate Lecturers' Characteristics Form (PLCF) and Postgraduate Students' Characteristics and Acquisition of Research Skills Questionnaire (PSCARSQ), were used for data collection. Data were analyzed using SPSS and WarpPLS computer-based statistical software. Results showed that the hypothesized causal model that describes the mediating influence of lecturers' and students' characteristics on the acquisition of research skills among postgraduate students in Nigerian universities was not significantly supported by the empirical data. It was also revealed that the magnitude of all the estimated direct effects of lecturers' and students' characteristics on postgraduate students' acquisition of research skills were statistically significant. The lecturer-student relationship contributed significantly to students' attitude towards research, time spent on studying and acquisition of research skills. The implication of this finding is that postgraduate lecturers and students need to establish and maintain a good interpersonal relationship, in order to foster mentorship and adequate acquisition of research skills among the students.