This paper proposes twenty-four performance indices that were freely considered by the authors as relevant for the conceptualization and evaluation of the impact of ICT on the Nigerian Universities. The indices are contained in the questionnaire that was administered on forty five out of sixty three public universities that span the six geo-political zones of Nigeria to obtain relevant data. Copies of the questionnaire were administered at meetings with staff and students. The data obtained were subjected to factor analysis by principal components using Statistical Package for Social Scientists (SPSS). From this analysis, four factors were extracted with different set of indices. The extracted factors are communication and feedback, study aid, processing and administration and management and relationship. The percentage contribution of each factor to the current performance of ICT in the university system in Nigeria was estimated. Each percentage contribution also exhibits the degree of relevance of the associated indices. It was discovered that the total sum of the percentage contributions was less than 100. This showed that the performance indices of some extraneous factors which contribute in no small measure to the current performance of ICT in Nigerian universities were not given consideration in the research instrument. Such extraneous factors include but not limited to staff training, security of lives and properties, discipline among staff and student, curriculum and government policy on ICT. Moreover, a factor scores coefficient matrix was generated and used to estimate and rank the contribution of each respondent to the performance figure.