Cloud Computing is a distributed architecture that centralizes server resources on a scalable platform so as to provide on demand computing resources and services. It is a viable tool for revamping the economy considering the benefits it provides though they are not without some challenges. The unprecedented success of internet in the last few years has made computing resources to be available more ubiquitously. Cloud computing environment requires the traditional service providers to have two different ways. Cloud computing provision can be in form of infrastructure or service. In infrastructure provision, cloud platforms are managed and resources are leased according to usage. In the other form, service providers offer services to the end users by renting resources from infrastructure providers. The results of cloud computing technology in revamping Nigeria’s economy are: reduced IT costs, scalability, business continuity, collaboration ef