Since June 4, 2021, Nigeria’s economy has lost N499.32 billion as a result of Twitter’s shutdown.

Since June 4, 2021, Nigeria’s economy has lost N499.32 billion as a result of Twitter’s shutdown.

Since June 4, 2021, Nigeria’s economy has lost N499.32 billion as a result of Twitter’s shutdown.

Advertisements

NewsReport gathered that the Federal Government announced the suspension of Twitter on June 4th, after the social media platform deleted a tweet by President Muhammadu Buhari (retd.). After receiving a directive from the Nigerian Communications Commission, telecommunication companies blocked access to Twitter on June 5.

According to the NetBlocks Cost of Shutdown Tool, the Twitter ban costs Nigeria’s economy N104.02 million ($250,600) per hour. The social networking site has been blocked for 4,800 hours (200 days).

Buhari hinted during his Independence Day speech that the ban would remain in place until Twitter was registered in Nigeria, had a physical presence, and was represented.

Festus Keyamo, the Minister of State for Labour and Employment, recently announced that Twitter had agreed to the nation’s conditions for lifting the suspension.

Since Twitter’s shutdown on June 4, 2021, Nigeria’s economy has lost N499.32 billion.

The Federal Government suspended Twitter on June 4 after the social media platform deleted a tweet by President Muhammadu Buhari (retd.). After receiving a directive from the Nigerian Communications Commission, telecommunication companies blocked access to Twitter on June 5.

According to the NetBlocks Cost of Shutdown Tool, the Twitter ban costs Nigeria’s economy N104.02 million ($250,600) per hour. The social networking site has been blocked for 4,800 hours (200 days).

Buhari hinted during his Independence Day speech that the ban would remain in place until Twitter was registered in Nigeria, had a physical presence, and was represented.

Festus Keyamo, the Minister of State for Labour and Employment, recently announced that Twitter had agreed to the nation’s conditions for lifting the suspension.

Keyamo, who is also a member of the committee set up to engage Twitter over its suspension, said, “The reason why the President took that step is to recalibrate our relationship with Twitter and not to drive them away from our country.

“That recalibration, we have started it and the president graciously added me to the committee.”

A financial planner, Kalu Aja, had said, “The Twitter ban raises a narrative about doing business in Nigeria, and it’s not a good narrative.

“Specifically, Twitter and social media allow Small and Medium-scale Enterprises and sole proprietors with zero marketing budgets but a smartphone to build and communicate a brand promise.”