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
Niger: Gov Bago backs fight against proliferation of small arms
Governor Umar Bago says his administration will continue to support the National Centre for the Control of Small Arms and Light Weapons.
Abuja
JICA: Japan commits N20 billion to expand Nigeria’s national grid
The Japanese government, through the Japan International Cooperation Agency, has committed N20 billion to expand and rehabilitate Nigeria’s national electricity grid.
Showbiz
Ogogo: APC governorship candidate offers medical assistance to Nollywood actor battling cancer
Nollywood actor Taiwo ‘Ogogo’ Hassan, who is battling stage four cancer, has been admitted to a hospital for medical treatment.
World
Democratic Socialist Angie Nixon wins Florida Senate primary
Democratic Socialist Angie Nixon has won Florida’s Democratic U.S. Senate primary, defeating former army intelligence officer Alexander Vindman.
Abuja
Wike probes FCT officials for converting green areas into car dealership lots
FCT minister Nyesom Wike has ordered an end to using green areas, parks, and gardens in Abuja as car dealership lots.
Faith
Ogun govt declares August 20 holiday to mark Isese Day
The Ogun state government has declared August 20 as a holiday to commemorate the 2026 Isese Day.
