Following the ban on the use of Twitter in Nigeria after the president’s civil war speech was deleted, it has been reported that Nigeria has lost N24.72bn ($60.14m) in 10 days to the Twitter ban that took effect on June 5.
Report from NetBlocks Cost of Shutdown Tool stated that Nigeria loses N102.9m ($250,600) every hour to the ban, following the Federal Government’s announcement on the 4th of June 2021.
From a report from Statista, Nigeria has about 33 million active social media users, with about 26 per cent on Twitter.
The Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Ayoola Olukanni, stated that, “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.”
He added that “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.”
He stressed that, “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.”
“We remain advocates for the free and Open Internet everywhere,” it added.
This is coming after 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.