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Educational institutions around the world are beginning to recognize the potential of the Internet in pedagogy.  Some university and college professors use the Internet mostly to post their syllabi and to refer students to appropriate web sites while some develop e-learning or websites for certain courses.  As the whole world of the "Information Super Highway" is in constant transition, so is the rule of the Internet on education, still being formatted, evaluated and in constant transition.  Given the mounting pressure the Internet has placed on the educational community, there is a dramatic surge in the Information Technology competencies expected of academicians in many universities in Nigeria.  For instance, all academic staffs in the University of Lagos are, therefore, expected to use and integrate new technologies into their instruction, communication and research. However, findings from previous studies have suggested that gender differences exist in relation to the use of Internet among teachers; this issue is beginning to gain the attention of researchers.  This paper reports on a descriptive study that was conducted to assess existing levels of Internet usage and competencies among the academic staff of University of Lagos in Nigeria according to gender. Specifically, it seeks to investigate if differences exist between females and males in terms of six components (e-learning, e-commerce, e-portfolio, e-communication, e-research, and virtual class applications) related to the usability of the Internet.  A quantitative research design was used for this study.  It was selected for implementation within the study because of the potential it offers in producing a formal, objective, systematic process for gathering information regarding the variables under investigation.  A total of 300 academic staff participated in this study.  The participants were randomly selected from various departments and faculty within the University.  Data collected was analyzed using SPSS.  Demographic data were presented with some frequency analysis.  Also T-tests were conducted for each item to determine if differences existed between females and males lecturers in terms of their Internet competencies according to the six components mentioned earlier. The results of the study show that there exists a gap between female and male academicians in certain cases such as e-learning, e-commerce, e-portfolio, multimedia and virtual class applications.  The study concluded with various possible reasons attributed to lack of usage and disparity of usage in some areas.  The Internet holds a lot of potential for lecturers’ professional developments, teaching and research; therefore, the lecturers must wake up and take the initiative of empowering themselves for the challenges ahead; more investment has to be made in the training, usability, and accessibility of Internet across our university campuses.  Also, subsidies have to be introduced by the universities to reduce the exorbitant cost of acquisition and implementation of Internet in Nigeria universities.