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
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
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.”
World
Two killed, 11 hospitalised after woman drives into youth football match in U.S.
The Wichita Police Department confirmed that a 34-year-old woman was arrested at the scene.
Heading 2
Violent protests rock France, about 300 arrested
According to reports, demonstrations by students began in the Paris suburbs in September
World
Protest rages in Albania as students demand resignation of prime minister
The state police director said 167 people had been arrested during the five days of protests.
NationWide
Corruption turning courtrooms to market stalls: Retired Justice Augie
She said lack of funding was another factor keeping jurists beholden to the executive arm of government.
Africa
Kenya confirms four more Ebola cases
Three of the new cases were among health workers who treated the country’s first patient.
Economy
FG says Nigerians to feel benefits of economic reforms soon
Mr Fasua acknowledged that rising fuel prices continued to exert pressure on households.
