Twitter Ban: Nigeria Loses N24.72BN in 10 Days
Category: Business News
Nigeria has lost N24.72bn ($60.14m) in 10 days to the Twitter ban that took effect on June 5.
According to NetBlocks Cost of Shutdown Tool, Nigeria loses N102.9m ($250,600) every hour to the ban.
The Federal Government had on June 4, 2021 announced the suspension of Twitter in Nigeria.
The Minister of Information and Culture, Lai Mohammed, had cited ‘the persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence’ as the reason for the suspension.
According to a report by Statista, Nigeria has about 33 million active social media users, with about 26 per cent on Twitter.
When asked what the ban meant to businesses in the nation, the Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Ayoola Olukanni, said, “Communication is a significant part of sales and marketing in this digital age. Consequently, the Twitter ban will likely impact negatively and disrupt businesses especially Micro, Small and Medium Enterprises who rely on social media, such as Facebook, Instagram including Twitter to conduct business.
“It will therefore most likely negatively impact the IT sector of the economy which is already facing several other challenges.
“While it may be considered that there are alternative social media platforms, the abrupt nature of the suspension would mean a loss of existing contacts and a cost of migration.
“We must of course also not and cannot, discountenance the national security dimension of the misuse of social media and micro-blogging platforms to inspire violence outside its use to conduct Business.”
Twitter had reached out to the government that it was ready to meet for an open discussion to address mutual concerns and see the service restored. The company revealed this in a tweet.
The company had said, “Today marks one week since Twitter was blocked in Nigeria. We have informed the Nigerian government that we are ready to meet for an open discussion to address mutual concerns and see the service restored.
“We remain advocates for the free and Open Internet everywhere.”
Big lies
ReplyDeleteThis is power wise naira foolish.
ReplyDeleteHow much tax does Twitter pay in Nigeria? And how much is Twitter losing? Let's sit on the negotiating table and fashion out the ways or modalities governance and infrastructure could be partially funded with the billions we didn't we have been making through Twitter.����♂️
ReplyDeleteTwitter is software as a service provider on the open internet. It is only those we need that should sign up. We can’t be telling them to pay us, it is not compulsory to be on Twitter if you don’t need it.
DeleteSo how much should Whatsapp pay us or are we supposed to pay WhatsApp?
Let How much Nigerian Business are losing due to the Ban be included
DeleteTwitter is a micro blogging business solution and a global firm that generates huge revenue and returns to it's stakeholders and taxes home government. Unfortunately this reality is lost to many. Some of these global technology firms are that of the cyber space that elude the sovereignty of nations as such fits in as part of the UNGOVERNED SPACES in security parlance. If we think the Arab Spring just happened or view other global imperialist phenomenon on face value we are deluded. There is an invisible arm of government on the prowl called intelligence agencies they are pulling strings and setting agenda beyond our wildest imagination. This isn't some conspiracy theory but a real and present danger. Spy craft has gone digital. I won't say more.
ReplyDelete