Appraisal of value of information in executing socio-economic activities in Nigeria

Abstract

The paper examined and appraised the actual meanings of the concepts of value, information and information value in different ways. As value is the worth, price or cost of something, information is accepted as that which increases the state of knowledge. The two concepts are integrated to mean importance attached to something according to perceived worth and which makes it desirable. The attributes, qualities, and categories of information are surveyed to add value to information value. The documentary study of information as commodity and analysis of information and the economic price system are duly discussed. Librarians’ roles in marketing the value of information are critically discussed to bring out the true nature of  information as a material with intrinsic value which can be disseminated, absorbed and used. After highlighting the importance and sources of information resources the paper recognizes information as an  indispensable socio-economic need of life which must be harnessed with the information and communication technology to build a well informed society.

Keywords: information, information value, information worth, information cost, information commodity