THE ECONOMIC VALUE OF INFORMATION

There are no standardized ways to value information generally.
But information may be valued by its utility which varies from individual to individual, and from organization to organization. Because information may be valued for its use, the user may be willing to pay for it thereby making it a commodity which can be measured by price as all other economic products in the market place.

However, information is not critically considered as valuable due to our low level of software development (ignorance and illiteracy). If the Nigerian government begins to utilize available information for developmental purposes, then an awareness of the economic value of information will be created. The bottom- line is that information may be regarded as a public and economic product.


Name: Ojadonor, U. Jimmy.

Reg. No: MIM/EDUC/11944/2007-08