Theatre and Performance as well as other activities that have theatrical nomenclature are capable of showcasing the socio-economic conditions of the people in a given society, besides all other intents. It is, therefore, pertinent in this context to consider how theatre and performance can be utilized as a concept in addressing and redressing the socioeconomic situation of the people in a deliberate attempt to make a better society. This work incorporated the efficacy of Theatre for Development (TfD) in awakening the consciousness of the society and its citizens, and recommends their usage for socioeconomic development. The work serves as an inspiration to theatre practitioners and performing artists to channel their creative activities towards the socio-economic challenges that the people face in a given society in an effort to contribute their quota to societal development. The significance of this work is that it aims at exploring the advantages of theatre and performance in the context of Theatre for Development, which is also known as Community Theatre, in proffering solutions to some socio-economic problems bothering the society, mostly African countries. In conclusion, this work has proved that theatre and performance should not be viewed from the perspective of fantasy but on the viability of exposing and developing the socio-economic aspect of nationhood.