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This study examined the economic and social benefits of Information and Communication Technology (ICT) policies in Nigeria: Igyor (1996) declared that one of the most striking structural changes in the world's economies over the years has been the shift of allocation of human and capital resources from the task of processing material goods to that of processing information. On the basis of occupational statistics, those individuals whose function is primarily to create, process and handleinformation can be identified in a growing nation of working professionals that share in the information age, people such as administrators, clerks, secretaries, bankers, lawyers, scientists, researchers and teachers. This paper generated important findings – In all spheres of business life, effective implementation of ICT policies will help to garner information on weather condition, disease outbreaks, new techniques, etc. These certainly will guide farmers, manufacturers, businessmen and government on how and when to invest their monies.