The nexus between investment in Information and Communication Technology (ICT) and Small and Medium Enterprise (SMEs) performance is crucial to SMEs development in Nigeria. SMEs’ development emanated from a performance such as Sales’ growth, profitability and productivity. Thus, this study critically and statistically examines the causal relationship between ICT investment and SMEs performance in Nigeria. This study was carried out in Southwestern Nigeria.    Multistage sampling procedure and purposive sampling techniques were used to select 3520 registered and unregistered SMEs in the study area for the study. The causal relationships between ICT investment and SMEs performance were tested using Granger Causality.  The Grangers causality test revealed that there was a significant (P<0.01) relationship between ICT investment and SMEs profitability, sales growth and productivity. This study concluded that investment in ICT had a positive and significant effect on SMEs' performance. Therefore, SMEs should invest more on ICT to increase their sales growth, productivity and profitability