Thursday
January 20
2022

Nigeria Lost $26 Billion to Twitter Ban, Businesses Say

The seven month shutdown of Twitter cost the Nigerian economy $26.1bn (N10.72trillion) the Lagos Chamber of Commerce (LCCI) and Industry has said.

“In business terms, the cost of the seven-month shutdown of Twitter operations in Nigeria is estimated to be N10.72trillion ($26.1billion) according to Netblock’s Cost of Shutdown Tool,” Chinyere Almona, the director-general, LCCI said on Friday.

As a result of the ban, local businesses lost out both on online revenues and on potential sales to mass audiences, she said in a statement to News Agency of Nigeria (NAN).

“Currently, the Information and Communications Technology sector is one of the growth drivers in the economy even as we see additional activities of digital platforms adding more potential to the sector. We, therefore, urge the government to create an enabling regulatory environment that supports global technology companies in achieving their potential and are sustainably profitable.”

Photo courtesy of Jurgen Appelo.

Source: African Business (link opens in a new window)

Categories
Technology
Tags
business, communications, e-commerce, marketing and advertising, social media, technology