Nigerian businesses lost over N10 trillion to Twitter ban: LCCI
The Lagos Chamber of Commerce & Industry (LCCI) on Friday estimated that Nigerian businesses lost N10.72 trillion ($26.1billion) within 222 days the President Muhammdu Buhari shut down Twitter operations across Nigeria.
“In business terms, the cost of the seven-month shutdown of Twitter operations in Nigeria is estimated to be N10.72 trillion (26.1billion dollars) according to Netblock’s Cost of Shutdown Tool,” the director-general of LCCI, Chinyere Almona said in a statement on Friday.
Buhari regime had banned Twitter operations in Nigeria on June 5, 2021, and eventually lifted the prolonged suspension on Wednesday.
A press release by Kashifu Inuwa Abdullahi, the chairman of Technical Committee Nigeria-Twitter Engagement, the suspension followed a memo written to the president by the Minister of Communications and Digital Economy, Isa Pantami. “In the Memo, the minister updates and requests the president’s approval for the lifting based on the Technical Committee Nigeria-Twitter Engagement’s recommendation.”
However, Mrs Almona while stating that Twitter was a viable tool for businesses in Nigeria, said the lifting of the suspension of Twitter operations in Nigeria was “well-received and commendable.”
“Digital platforms have become a viable tool for business operations and governance in engaging with diversified audiences and boosting digital transactions,” she noted.
She further appealed to the Buhari regime to create an enabling environment that supports global technology companies.
“When this happens Nigeria’s Gross Domestic Product (GDP) and revenue mobilisation will receive a boost through tax revenues from these companies,” she said.
“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,” she added.
Meanwhile, Amnesty International had accused the Buhari regime of using the ban to stifle the collective voice of Nigerians, a violation of their rights to freedom of expression.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Troops rescue kidnap victims, nab terrorist logistics suppliers in operations across Zamfara, Katsina, Kebbi
The statement noted that on 19 July 2026 vehicle conveying 10 motorcycles suspected to be for terrorists were intercepted during a routine stop-and-search operation in Kebbi State.
States
Man, 23, in court for allegedly threatening to kill his parents
The prosecutor said the offences contravene Sections 97, 287 and 396 of the Penal Code.
States
Court adjourns Benue candidates’ suit against APC until August 27
The judge warned that absence of any counsel resulting in a delay of the proceedings would attract sanctions.
Heading 4
Gov. Sani lectures states on how to copy Kaduna’s peace model
Mr Sani stressed that quality healthcare is not for a privileged few in Kaduna State but ‘’a fundamental right of everyone, particularly the downtrodden.’’
Heading 2
CBN retains benchmark interest rate at 26.5%
The latest decision to maintain the current policy stance followed a thorough assessment of the balance of risks.
Abuja
Two Abuja security guards, one other arraigned over alleged theft iron rods worth N5 million
The defendants pleaded not guilty to the charge.
