See how much Nigeria has lost since the Twitter ban
Nigeria has lost N24.72 billion in ten days as a result of the federal government’s Twitter ban.
The Federal government put the microblogging app’s operations in Nigeria on hold indefinitely on June 5 after the site removed a tweet from the President’s handle.
Last week, the Federal government announced that the microblogging site had reached out for talks and that the government would now provide operational licenses to such sites if they wanted to operate in Nigeria.
Nigeria loses N102.9 million ($250,600) each hour due to the ban, according to NetBlocks Cost of Shutdown Tool, an international Internet watchdog.
The economic impact of digital rights is estimated by the digital rights advocacy platform.
According to an international Internet monitor, the restriction costs Nigeria N102.9 million ($250,600) per hour.
The digital rights advocacy platform uses indicators from the World Bank, the International Telecommunication Union (ITU), and Eurostat to estimate the economic impact of an internet outage, mobile data blackout, or app restriction.
Nigeria lost an estimated N2.1 billion naira when Twitter was brought down for 24 hours, according to its analysis.
Nigeria has over 33 million active social media users, with about 26% on Twitter, according to Statista. The Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Ayoola Olukanni, while commenting on the ban, said it has a more adverse effect on micro, small and medium businesses who rely on social media to conduct their business.
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