The survey study investigates the perception of the value of Library and Information Science (LIS) degree for side business practices among LIS professionals in Nigeria. The study used a combination of web-based and hard copy questionnaire to elicit information from 176 randomly selected working librarians in academic libraries in Nigeria. Four objectives guided the study. The results of the study reveal that the librarians perceive that the LIS degree has value. The majority of them engage in one side business or another. However, the side business engagements of the librarians are mostly in the traditional core librarianship areas while opportunities in information and communication technology (ICT) are not maximally exploited as a result of skills inadequacies. Obstacles that hinder the librarians from engaging in side businesses as well as the strategies that can be employed to enhance engagement in side businesses are identified. The study recommends among other things that librarians should acquire skills in ICT to be able to take up the opportunities that it offers. Also, the LIS schools should employ librarians who are competent in ICT to impart the knowledge and competencies that are needed.