Nigeria businesses may have lost ₦150.46bn ($366.88m) since the Federal Government’s ban on Twitter took effect in the country on June 5, Africa Daily News, New York has learnt.
This figure was calculated based on the NetBlocks Cost of Shutdown Tool. According to the tool, it costs Nigeria’s economy ₦102.77m ($250,600) every hour to ban Twitter.
By that calculation, Africa Daily News, New York can confirm that it has been 1,464 hours (61 days) since the ban. In that time period, Nigeria may have lost N150.46bn.
The NetBlocks Cost of Shutdown Tool estimates the economic impact of an internet disruption, mobile data blackout or app restriction in a nation using indicators from the World Bank, International Telecommunication Union, Eurostat and U.S. Census.
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The Federal Government had on June 4 announced the suspension of Twitter in Nigeria. Telecommunication companies started blocking access to Twitter on June 5, after they received a directive from the Nigerian Communications Commission to block access to Twitter.
The FG had cited the persistent use of the platform for activities capable of undermining Nigeria’s corporate existence as the reason for the suspension.
Following the ban, groups including the Socio-Economic Rights and Accountability Project, had dragged the Federal Government to the ECOWAS court.
According to a recent report by Statista, Nigeria has about 33 million active social media users, with about 26 percent on Twitter.
AFRICA DAILY NEWS, NEW YORK
