The purpose of this study was to investigate the impact of business communication on organizational performance in Nigerian companies. In business, message is conveyed through various channels of communication, including internet, print (publication), radio, television, etc. Whether or not significant change(s) results in the performance of an organization as a result of business communication is yet to be empirically established. This study, therefore, was carried out to investigate the relationship between business communication and organizational performance in Nigeria (a less developed economy) using a contextualized and literature based research instrument to measure the application of the investigated “constructs”. Using the survey method, the study obtained sample data from 100 small and large manufacturing and service companies operating in Lagos State of Nigeria. The research instrument showed encouraging evidence of reliability and validity. Data were analyzed using descriptive statistics, percentages and t- test analysis. The study found that effective business communication is emphasized to a reasonable extent in the surveyed Nigerian companies. However, the ‘level of emphasize’ is a question of degree. It was also found that the extent of practices of effective business communication, were related to the category of business (service versus manufacturing) and its size. The research findings are limited to some extent by the confounding effect of variations within and between industry types of firm and industry sectors, and the use of respondents’ own-assessments of performance. The established research beyond the usual context of developed western economies, and thereby, potentially contains some lessons for practitioners and researchers in other developing countries.